(AOF) – American markets are expected to be on a bearish note at the opening of the last session of the week. Yesterday, Wall Street ended lower as the Fed boss tempered expectations on rates. On the statistics front, retail sales came in higher than expected. For its part, the New York Fed's manufacturing index jumped in November. On the value side, Applied Materials revealed sales forecasts lower than analysts' projections. Before the first exchanges, futures on the S&P lost 0.57% and those on the Nasdaq 0.93%.
Yesterday on Wall Street
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.
Macroeconomic figures
The New York Fed's manufacturing index stood at 31.20 in November compared to -11.90 in October. It was expected to rise to -0.30.
Retail sales increased by 0.4% in October in the United States against a consensus of 0.3% after an increase of 0.8% in July.
Industrial production in October will be known at 3:15 p.m.
Values to follow
Applied Materials
Semiconductor equipment manufacturer Applied Materials revealed sales forecasts lower than analysts' projections. In the fourth quarter, ended at the end of October, the group recorded a 14% decline in net profit to $1.73 billion, or $2.09 per share. Earnings per share excluding exceptional items came to $2.32, or 13 cents better than the consensus. Revenue rose 5% to $7.05 billion, compared to market expectations of $6.97 billion.
Domino’s Pizza
Domino's Pizza climbs 7% in pre-market trading as Berkshire Hathaway, Warren Buffett's company, announced its entry into the capital of the largest pizzeria chain in the world. As of September 30, Berkshire owned 1.28 million shares of Domino worth about $549 million. These investments were disclosed in a filing from the United States Securities and Exchange Commission.
General Mills
Agri-food group, General Mills has acquired the North American activities of Whitebridge Pet Brands, an American entity specializing in high-end pet food and treatment in Whitebridge from NXMH. The transaction is valued at $1.45 billion. Whitebridge Pet Brands owns the Tiki Pets and Cloud Star portfolio of brands. This group's North American business generated approximately $325 million in Nielsen-measured U.S. retail sales over the past twelve months.
Nike
Nike rose 1.2% in pre-market trading as billionaire William Ackman increased his stake in the company from 3.04 million to 16.3 million shares. The comma brand, which is facing sluggish demand and declining sales, announced in September the return of company veteran Elliott Hill as chief executive.
Pharmaceutical sector
Wall Street-listed vaccine manufacturers Moderna, Pfizer and BioNtech closed sharply lower yesterday and are expected to fall further this Friday. Investors took note of Donald Trump's announcement of the nomination of Robert F. Kennedy Jr. to lead the Department of Health and Human Services (HHS). This former presidential candidate opposed the restrictions imposed on Americans during the health crisis: he was accused of spreading disinformation about vaccines.
