(AOF) – American stock markets closed the penultimate session of the week on a negative note. Jerome Powell's comments that the Fed does not need to rush to ease monetary policy dampen investors' hopes of another rate cut in December. On the value side, Walt Disney jumped after posting better than expected results in the fourth quarter. The Dow Jones fell 0.47% to 43,750 points while the Nasdaq fell 0.64% to 19,107 points.
Walt Disney
jumped 6.23% to $109.12 on the New York market, reaching its highest price in six months during the session. The American entertainment giant generated results above expectations for the fourth quarter of its staggered financial year. Earnings per share came to $1.14 per share, up 39%, where analysts were targeting $1.10. Its revenues, up 6% and in line with expectations, amounted to $22.6 billion compared to a consensus of $22.49 billion.
Macroeconomic figures
The number of weekly unemployment claims rose to 217,000 last week, compared to 224,000 expected, after 221,000 the previous week.
In the United States, producer prices increased by 2.4% in October at an annual rate while they were expected to increase by 2.3%. They were up 1.9% in September. Monthly, they are up 0.2% as expected and after 0.1% in September.
U.S. gas inventories rose by 42 billion cubic feet of gas over the past week, compared with expectations for an increase of 34 billion cubic feet, following an increase of 69 billion the previous week. Inventories are 158 billion cubic feet higher than this time last year and 228 billion cubic feet higher than the 5-year average of 3,746 billion cubic feet.
Crude oil inventories increased by 2.089 million barrels last week in the United States compared to an increase of 2.149 million barrels the previous week, according to the US Energy Information Administration. Specialists were counting on an increase of 0.400 million barrels. In addition, gasoline stocks fell by 4.407 million barrels while those of distillate products, including heating oil, fell by 1.394 million barrels. The market was expecting an increase of 1 million each.
Stocks to follow on Wall Street
Booking
As of this Thursday, Booking Holdings, appointed as gatekeeper on May 13, 2024, must ensure that its online intermediation service, Booking.com, complies with all relevant obligations of the Digital Markets Act (DMA). The European Commission announces that hotels, car rental companies and other travel service providers that rely on the platform to reach their customers can start to take advantage of new opportunities, such as banning so-called “parity” clauses .
Cisco
Cisco is expected to be in the red on Wall Street due to somewhat weak annual revenue prospects. In the first quarter, ending at the end of October of fiscal year 2025, the network equipment specialist's net profit fell 25% to $2.7 billion, or 68 cents per share. On an adjusted basis, earnings per share came to 91 cents, 4 cents better than the Bloomberg consensus. For its part, Cisco's turnover fell 6% to $13.8 billion while the market was targeting $13.77 billion.
Eli Lilly
Eli Lilly announced detailed results from the three-year Phase 3 Surmount-1 study, the longest study of tirzepatide to date. Weekly injections of this molecule marketed under the name Zepbound and Mounjaro significantly reduced the risk of progression to type 2 diabetes in prediabetic and obese or overweight adults, compared to placebo. She demonstrated a sustained average weight loss of 22.9% over the three-year treatment period.
Meta
The European Commission has fined Meta €797.72 million for breaching EU rules on anti-competitive practices by linking its online advertising service, Facebook Marketplace, to its social network. personal, Facebook, and imposing unfair trading conditions on other online advertising service providers.
Tapestry/Capri
The American ready-to-wear group Tapestry has announced that it is terminating the merger agreement with its competitor Capri. “Capri and Tapestry have mutually decided that it is in the best interests of both companies to terminate the merger agreement at this stage, given that the outcome of the legal proceedings is uncertain and it is unlikely to be resolved before the deadline of February 10, 2025,” Tapestry said in a press release published on Thursday.
Walt Disney
jumped 7.92% to $110.80 on the New York market, reaching its highest price in six months during the session. The American entertainment giant generated results above expectations for the fourth quarter of its staggered financial year. Earnings per share came to $1.14 per share, up 39%, where analysts were targeting $1.10. Its revenues, up 6% and in line with expectations, amounted to $22.6 billion compared to a consensus of $22.49 billion.
Macroeconomic figures
The number of weekly unemployment claims rose to 217,000 last week, compared to 224,000 expected, after 221,000 the previous week.
In the United States, producer prices increased by 2.4% in October at an annual rate while they were expected to increase by 2.3%. They were up 1.9% in September. Monthly, they are up 0.2% as expected and after 0.1% in September.
U.S. gas inventories rose by 42 billion cubic feet of gas over the past week, compared with expectations for an increase of 34 billion cubic feet, following an increase of 69 billion the previous week. Inventories are 158 billion cubic feet higher than this time last year and 228 billion cubic feet higher than the 5-year average of 3,746 billion cubic feet.
Crude oil inventories increased by 2.089 million barrels last week in the United States compared to an increase of 2.149 million barrels the previous week, according to the US Energy Information Administration. Specialists were counting on an increase of 0.400 million barrels. In addition, gasoline stocks fell by 4.407 million barrels while those of distillate products, including heating oil, fell by 1.394 million barrels. The market was expecting an increase of 1 million each.
Stocks to follow on Wall Street
Booking
As of this Thursday, Booking Holdings, appointed as gatekeeper on May 13, 2024, must ensure that its online intermediation service, Booking.com, complies with all relevant obligations of the Digital Markets Act (DMA). The European Commission announces that hotels, car rental companies and other travel service providers that rely on the platform to reach their customers can start to take advantage of new opportunities, such as banning so-called “parity” clauses .
Cisco
Cisco is expected to be in the red on Wall Street due to somewhat weak annual revenue prospects. In the first quarter, ending at the end of October of fiscal year 2025, the network equipment specialist's net profit fell 25% to $2.7 billion, or 68 cents per share. On an adjusted basis, earnings per share came to 91 cents, 4 cents better than the Bloomberg consensus. For its part, Cisco's turnover fell 6% to $13.8 billion while the market was targeting $13.77 billion.
Eli Lilly
Eli Lilly announced detailed results from the three-year Phase 3 Surmount-1 study, the longest study of tirzepatide to date. Weekly injections of this molecule marketed under the name Zepbound and Mounjaro significantly reduced the risk of progression to type 2 diabetes in prediabetic and obese or overweight adults, compared to placebo. She demonstrated a sustained average weight loss of 22.9% over the three-year treatment period.
Meta
The European Commission has fined Meta €797.72 million for breaching EU rules on anti-competitive practices by linking its online advertising service, Facebook Marketplace, to its social network. personal, Facebook, and imposing unfair trading conditions on other online advertising service providers.
Tapestry/Capri
The American ready-to-wear group Tapestry has announced that it is terminating the merger agreement with its competitor Capri. “Capri and Tapestry have mutually decided that it is in the best interests of both companies to terminate the merger agreement at this stage, given that the outcome of the legal proceedings is uncertain and it is unlikely to be resolved before the deadline of February 10, 2025,” Tapestry said in a press release published on Thursday.
