(AOF) – American markets should open in scattered order. Investors saw additional good news on the inflation front: producer prices recorded an unexpected decline in May. This statistic allowed the yield on the American 10-year bond to fall by 5 basis points. In addition to this movement on the rates market, technology stocks should benefit from Broadcom’s results. A few minutes before the opening, futures on the Dow Jones lost 0.16% and those on the Nasdaq gained 0.69%.
Yesterday on Wall Street
American stock markets ended higher this session, after the inflation figures and the Fed’s decision. The US Federal Reserve kept its key rates unchanged. Bank officials expect just one rate cut of 25 basis points for this year. US inflation in May came out lower than expected. The Nasdaq Composite gained 1.53% to 17,608.44 points and the Dow Jones lost 0.09% to 38,712.21 points.
Macroeconomic figures
Producer prices fell by 0.2% in May in the United States after increasing by 0.5% in April. The consensus stood at -0.1%. Excluding energy and food, they are stable after an increase of 0.5% in April. The market expected an increase of 0.3%.
The number of unemployment claims stood at 242,000 last week in the United States against a consensus of 225,000 after 229,000 the previous week.
Data on the weekly evolution of gas stocks in the United States will be published at 4:30 p.m.
Values to follow
Airbnb
The Umih (Union of Hotel Trades and Industries) announced this Thursday that it had filed a summons against Airbnb, considering that the platform does not comply with the regulations applicable to it. This action, which aims to denounce the distortion of competition suffered by hoteliers, is carried out by 26 hotels throughout France who are requesting individual repairs. The Umih announces a press conference on this subject on June 20.
Broadcom
Broadcom is expected to rise sharply on Wall Street thanks to strong demand for its products linked to artificial intelligence. In the second quarter, ended at the beginning of May, the group present in semiconductors and software achieved a net profit of 2.21 billion dollars, or 4.42 dollars per share, compared with a net profit of 3.48 billion, or $8.15 per share, a year earlier. Excluding one-off items, earnings per share reached $10.96, beating the consensus of $10.80.
JPMorgan
JPMorgan now anticipates an increase of 25% to 30% in its investment banking revenues in the second quarter, Bloomberg reports, citing Troy Rohrbaugh, co-chief executive officer of commercial banking & Investment. The American bank previously forecast an increase of around 15%.
Moderna
Moderna, announced that its phase 3 trial of mRNA-1283, an experimental messenger RNA vaccine against Covid-19, met its primary endpoint: it demonstrated non-inferior efficacy compared to its current Spikevax vaccine (mRNA-1273). The US group also announced that higher effectiveness was observed in adults aged 18 and over, with a consistent trend observed in the subset of adults aged 65 and over.
Pfizer
Pfizer announced the failure of Ciffreo, a global phase 3, multicenter, randomized, double-blind, placebo-controlled study evaluating fordadistrogen movaparvovec, its investigational mini-dystrophin gene therapy, in outpatients with dystrophy Duchenne muscle (DMD). The study did not meet its primary endpoint of improvement in motor function in boys aged 4 to 7 years compared to placebo.
You’re here
Tesla is expected to rise sharply in the pre-market on Wall Street after CEO Elon Musk announced on Texas. Elon Musk welcomes the “large” majority garnered by these two resolutions and thanks his supporters before the official announcement. The executive’s compensation plan has attracted attention since its annulment in January 2024 by a Delaware court.
