(AOF) – American markets should open slightly higher. Investors await the non-manufacturing Purchasing Managers’ Index (ISM) in December and the Jolts report on job openings in November at 4:00 p.m. On the value side, Nvidia should record a new all-time high after the presentation by its boss of new products during CES in Las Vegas. Less than 30 minutes from the first transactions, futures on the S&P 500 index gained 0.12% while those on the Nasdaq Composite increased by 0.09%. Long rates are stable.
Yesterday on Wall Street
US stock markets closed mixed. Nvidia finished at the top of the Dow Jones, driven by the investments announced by Microsoft in AI as well as the good results of Taiwanese Foxconn. US Steel finished higher. Steel producer files lawsuit against Joe Biden after his takeover was blocked. In addition, Donald Trump denied information from the Washington Post according to which the increase in customs duties would apply to all countries. The Dow Jones lost 0.06% to 42,706.56 points and the Nasdaq gained 1.24% to 19,864.98 points.
Macroeconomic figures
In the United States, the trade balance deficit stood at $78.20 billion in November against a consensus of $78.30 billion. It reached $73.60 billion in October.
The December non-manufacturing Purchasing Managers’ Index (ISM) and the Jolts report on job openings in November are due at 4:00 p.m.
Values to follow
AbbVie
AbbVie on Monday lowered its adjusted profit forecasts for 2024. In a document sent to my SEC, the watchdog of American markets, the drugmaker announced that it had incurred $1.6 billion in acquisition expenses linked to milestone payments as well as research and development costs. The company expects adjusted earnings of $10.02 to $10.06 per share for 2024, up from $10.90 to $10.94 previously. Analyst consensus was $10.94, with AbbVie expecting fourth-quarter adjusted earnings of $2.06 to $2.10 per share.
Distribution
Online retail spending reached new highs during the U.S. holiday season, Adobe Digital Economy reported. Consumers spent $241.4 billion online during the 2024 holidays, an increase of 8.7% from 2023. Spending via mobile devices was even greater this year. This season, mobile revenue share reached a record 54.5% of online purchases. Mobile shopping peaked on Christmas Day, accounting for 65% of sales.
Micron
Micron Technology’s stock is expected to rise as the computer memory maker was named by Nvidia as one of the main suppliers of its new line of graphics cards for gaming PCs. These are built on the basis of the Blackwell chip.
Nvidia
During a conference organized during the Consumer Electronics Show in Las Vegas – the most important exhibition dedicated to technological innovation for consumer electronics – the boss of Nvidia, Jensen Huang, unveiled new graphics cards for PCs intended for gaming, built on the basis of the Blackwell chip. Historically, Nvidia had made a name for itself thanks to the performance of its graphics cards for personal computers.
Stryker
Stryker is expected lower after announcing a definitive agreement to acquire all of Inari Medical’s common stock for $80 per share in cash, or a total value of approximately $4.9 billion. The medtech specifies that Inari, founded in 2011, will bring it to a leading position in the peripheral vascular field in the growing venous thromboembolism (VTE) segment. Inari’s portfolio of innovative products is “highly complementary” to Stryker’s neurovascular business.
Tesla
Tesla is expected to fall in pre-market trading on Wall Street after the National Highway Traffic Safety Administration (NHTSA) announced that it has opened an investigation into approximately 2.6 million Tesla vehicles following reports of accidents linked to its functionality driverless “Actually Smart Summon”. The implicated vehicles failed to detect poles or parked vehicles despite being managed via this feature launched in September which allows users to remotely move their vehicle using a smartphone app .
Uber
Uber is expected to rise in pre-market on Wall Street after announcing a collaboration with Nvidia to ‘accelerate the development of safe and scalable autonomous driving solutions’ using AI. ‘Generative AI will power the future of mobility, requiring both rich data and very powerful computing capabilities,” said Dara Khosrowshahi, CEO of Uber. “Millions of trips take place every day on Uber, which represents a vast source of data,” underlines the operator.
