(AOF) – US markets are expected to be in the red the day after new records are set. The purchasing managers’ indices for the manufacturing and services sectors are particularly expected, a few hours after the publication of the same statistics for Europe. The latter have indeed shown a more significant slowdown in activity than expected. Already yesterday, the US data had disappointed. A few minutes before the opening, the futures on the S&P 500 and the Nasdaq Composite lost 0.38% and 0.14%.
Yesterday on Wall Street
US markets ended up, supported by technology stocks; the momentum effect playing in full force. Investors have relegated to the background of new disappointing economic statistics, including weekly jobless claims that rose above one million. Side values, Estée Lauder was severely sanctioned while Tesla, candidate for entry into the S&P 500 posted a new all-time high above $ 2,000. The Dow Jones closed up 0.17% to 29,739.73 points and the Nasdaq Composite gained 1.06% to 11,264.95 points.
Macroeconomic figures
The purchasing managers’ indices for the manufacturing and services sectors in August will be released at 3.45 p.m. and sales of second-hand homes in July at 4 p.m.
The values to follow
DEERE
Despite the Covid-19 pandemic, Deere & Company on Friday unveiled better than expected results for its third fiscal quarter of 2020. Thus, the American manufacturer of agricultural equipment published a net profit of 811 million dollars over the period, or $ 2.57 per share, compared to net income of $ 899 million, or $ 2.81 per share, a year earlier. The FactSet consensus expected much less: earnings per share of $ 1.26.
GENERAL ELECTRIC
The contract of General Electric CEO Lawrence Culp has been extended until August 2024, according to a document filed by the conglomerate with the SEC. He replaced John Flannery in this post in October 2018.
FOOT LOCKER
Foot Locker on Friday unveiled better than expected results for its second quarter of 2020. Thus, the American distribution brand specializing in sports published a net profit of 45 million dollars over the period, or 43 cents per share, versus net income of $ 60 million, or 55 cents a share, a year earlier. Excluding one-offs, earnings per share stood at 71 cents, exceeding the expectations of the FactSet consensus (69 cents).
PFIZER
Pfizer and BioNtech have reported favorable preliminary Phase 1 results for their Covid-19 vaccine candidate. The latter could be subject to regulatory review as early as next October. If approved, up to 100 million doses could be provided by the end of 2020 and nearly 1.3 billion doses by the end of 2021. The BioNtech share benefits particularly on Friday in the pre-opening of the equity markets American.
UBER / LIFT
The California First District Court of Appeals has suspended the decision of a state judge who last Monday gave Uber and Lyft 5 days to reclassify their drivers as employees, and no longer as self-employed. Concretely, this means that the two VTC companies will be able to continue, for the moment, their operations in the Golden State, while they had threatened to withdraw altogether. The state of California alone accounts for 16% of Lyft’s second-quarter rides and 9% of Uber bookings before the pandemic.
TESLA
Tesla keeps climbing. The title of the American manufacturer of electric vehicles has finally crossed the symbolic threshold of 2,000 dollars. Thursday, the action thus closed on a gain of 6.56% to 2,001.82 dollars. At the start of the year, it cost … $ 430. To make its title more accessible, Tesla intends to divide its share price by five next week.
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