‘Apart from the valuation aspect, the continuous rise of the index and its resistance to possible bad news gives the impression of a bubble,’ recognizes Aurel BGC, which also points its concentration on a few technological heavyweights.
If he concedes that ‘the question is fully justified as to whether investors do not show an excess of complacency towards these values’, the research office considers that’ this rise in the Nasdaq can also be justified by arguments rational ‘.
The US Department of Labor counted 881,000 new registrants for unemployment benefits last week, compared to 1,011,000 the previous one, while the consensus was counting on 950,000 registrations.
Non-farm labor productivity rebounded 10.1% annualized in the second quarter, while unit wage costs rose 9%, revised from 7.3% to 12.2 % in preliminary estimates.
In contrast, the United States’ trade deficit widened by 18.9% to $ 63.6 billion in July 2020, thus far exceeding a consensus of -51.7 billion, as exports grew more slowly. than imports.
The ISM services index in the United States stood at 56.9 in August, which shows a drop of 1.2 points in monthly data. This index is therefore lower, very slightly, than the trend forecast by economists, who on average forecast an index of 57.
The final IHS Markit index for service activity in the United States stood at 55 in August, up from July (50). It is both above analysts’ expectations and its flash estimate (54.8).
On the value front, Campbell Soup publishes for its fourth quarter 2019-20 an adjusted EPS up 50% 63 cents, beating the consensus by two cents, for revenues up 18% $ 2.11 billion (+ 12% organic).
The warehouse chain Costco Wholesale unveiled Wednesday evening a turnover of 13.56 billion dollars for the month of August, up 15% year-on-year (+ 13.2% like-for-like).
Verizon Business announces that it has been selected by Bayer to build a next-generation global network infrastructure to support its operations internationally, with a five-year contract effective immediately and with a two-year extension.
Analyst Jefferies confirms this Thursday his ‘Buy’ recommendation on American Eagle Outfitters, accompanied by a price target of $ 20.
‘Overall, traffic in shopping centers and spaces has started to recover from its low in July,’ said the broker.
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