(AOF) – American markets are expected to be close to balance at the opening of the first session of the week, after the publication last Friday of the monthly report from the American Department of Labor. In addition, the Fed will deliver its next monetary policy decision this Wednesday in what will be one of the highlights of this week. At the same time, Europe is under pressure due to the results of the European elections. Before the first exchanges, futures on the S&P and those of the Nasdaq lost 0.03% and 0.06% respectively.
Friday on Wall Street
US stock markets ended the week on a negative note. This Friday session was animated by the publication of the monthly report from the American Department of Labor. It emerged that the economy created more jobs than expected in May while the rate of wage increases increased more than expected. On the values side, Gamestop plunged on the stock market after reporting a greater than expected drop in its turnover in the first quarter. The Dow Jones fell 0.22% to 38,798 points while the Nasdaq fell 0.23% to 17,133 points.
Macroeconomic figures
No statistics of great importance are expected today.
Values to follow
Apple
Apple’s WWDC conference begins today and investors are particularly awaiting announcements about its strategy for using generative artificial intelligence in its products and services. “We believe it will kick off a cycle of accelerated growth in iPhone and AI-enabled services that will be the common thread of Apple’s story in the years to come. A key moment for Apple,” tweeted Dan Ives, analyst at Wedbush.
Berkshire Hathaway/Occidental Petroleum
Warren Buffett’s investment company, Berkshire Hathaway, acquired 2.57 million shares of the oil company, Occidental Petroleum, between June 5 and 7, according to a document filed with the SEC. Berkshire Hathaway now owns just over 250 million shares of Occidental Petroleum.
KKR
The American investment fund KKR, whose shares are up nearly 10% in pre-market trading, has announced its integration into the S&P 500 index, as of June 24. It will be imitated by the cybersecurity company CrowdStrike and the Internet service provider GoDaddy. The three firms will replace recruitment services company Robert Half, US regional bank Comerica and gene sequencing machine maker Illumina.
Southwest Airlines
Southwest Airlines is expected to rise sharply in pre-market trading on Wall Street after the Wall Street Journal reported that activist investor Elliott Investment Management had accumulated nearly $2 billion in shares of the U.S. airline. For the fund, it is a question of reversing the current poor performance of Southwest, which posted a net loss of $231 million in the first quarter compared to $190.88 million expected. Elliott notably achieved positive results by investing in Salesforce in 2023.
You’re here
Norges Bank Investment Management, the Norwegian sovereign wealth fund, announced on its site that it wants to vote against the compensation plan proposed by Tesla for Elon Musk during the general meeting scheduled for Thursday. The manufacturer’s eighth shareholder, the fund says it is “concerned by the total amount” of the plan “taking into account the performance triggers, dilution and lack of risk mitigation linked to key people”. “We will continue to seek a constructive dialogue with Tesla,” he adds, however. Elon Musk stands to receive $56 billion if the project is adopted.
