American markets are expected to be in positive territory at the opening of the last session of the week. Investors have already taken note of durable goods orders which came in better than expected in April ahead of the University of Michigan consumer confidence index. In terms of values, Nvidia, which rose by more than 9% yesterday in the wake of its quarterly results above expectations, should once again boost the stock. Before the first trades, futures on the S&P and on the Nasdaq gained 0.35% and 0.38% respectively.
Yesterday on Wall Street
US stock markets ended in the red. The statistics published Thursday revived fears about the persistence of inflation. In this context, the Fed’s rate cut could be delayed. In terms of values, Nvidia once again impressed in the wake of its better-than-expected quarterly results. The semiconductor manufacturer surpassed the threshold of $1,000 per share for the first time. The Dow Jones fell 1.53% to 39,065 points while the Nasdaq lost 0.39% to 16,736 points.
Macroeconomic figures
Orders for durable goods increased by 0.7% in April in the United States, while they were expected to decline by 0.9%. They increased by 0.8% in March. Excluding defense and aeronautics, they increased by 0.3% against +0.1% expected, after -0.1% in March.
The University of Michigan Consumer Confidence Index will be released at 4 p.m.
Values to follow
Intuit
Intuit has raised its annual targets. In the third quarter, ended at the end of April, the tax consulting software company recorded a net profit of $2.39 billion, or $8.42 per share, compared with a profit of $2.09 billion representing $7.38 per share a year earlier. Excluding exceptional items, it generated earnings per share of $9.88, compared to the consensus of $9.38. Intuit’s turnover increased by 12% to $6.737 billion.
Ross Stores
Ross Stores, whose stock jumped more than 6%, published earnings per share for the first quarter of 1.46 dollars against 1.35 expected by the consensus. The distributor of discounted products recorded sales of $4.86 billion for the quarter ended May 4 compared to forecasts of 4.83 billion euros. Ross Stores also raised its full-year earnings forecast to a range of $5.79 to $5.98 per share, up from $5.64 to $5.89 previously.
You’re here
Tesla has cut production of its Model Y electric car by 20% at its Shanghai factory since March, says Reuters. This decision would aim to respond to the drop in Chinese demand for this aging model, while China is its second largest market and the one in which the majority of cars produced at the Shanghai factory are sold. According to the China Association of Automobile Manufacturers (CAAM), China’s Model Y production stood at 49,498 units in March and 36,610 in April, down 17.7% and 33% respectively, on a year-on-year basis. year.
Workday
Workday is expected to be in the red after lowering its targets. The American specialist in cloud solutions for financial management and human resources management posted a diluted profit of 40 cents per share for its third fiscal quarter, compared to breakeven a year earlier. Excluding exceptional items, earnings per share came to $1.74, 16 cents better than consensus.
Source: AOF
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