(News Bulletin 247) – Wall Street should open on a note of caution on Thursday morning after lining up eight consecutive sessions of increases, investors having not found grounds for satisfaction in the latest batch of company results.

Half an hour before the opening, the ‘futures’ contracts on the major New York indices yield between 0.1% and 0.8%, announcing a start to the session at half mast.

The trend is weighed down by several disappointing quarterly results, starting with those of streaming giant Netflix and electric vehicle manufacturer Tesla.

The Netflix title lost more than 6% in pre-opening following the announcement by the video-on-demand specialist of quarterly sales below expectations and worse-than-expected forecasts.

Tesla meanwhile sold nearly 4% in electronic quotations after the publication of results showing that the Californian group is not ready to give up its price cuts, which raises fears for its future profitability.

These disappointing publications come as the publications of the technological heavyweights will be particularly scrutinized knowing that investors are asking questions about the already tight valuation of the Nasdaq index, which has rebounded 37% this year.

Investors, on the other hand, greeted with complete indifference an indicator showing that manufacturing activity had continued to contract in the Philadelphia area in July.

On the labor market, the number of registrations for unemployment benefits fell by 9,000 during the week of July 10 to stand at 228,000 according to the Department of Labor.

Wall Street will react at the start of the session to figures from the leading indicators of the Conference Board and sales of existing homes.

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