(AOF) – American stock markets are rising before the publication of the Fed’s Beige Book. According to the ADP survey, 146,000 jobs in the private sector were created in November compared to 166,000 expected. In the United States, the PMI Composite, which takes into account the manufacturing and services sectors, stood at 54.9 in November compared to 55.3 expected. On the value side, Salesforce stock is climbing amid favorable prospects for Agentforce, its AI-based virtual assistant. Around 5:30 p.m., the Dow Jones gained 0.45% to 44,906.12 points and the Nasdaq increased by 0.94% to 19,663 points.
Strongest rise in the S&P 500 index,
Salesforce
jumped 8.86% to $361.18 amid favorable prospects for Agentforce, its virtual assistant based on artificial intelligence. “The Salesforce case for Agentforce was compelling, and it is likely to become the primary argument for action”; reports JPMorgan. Since it became widely available in October, the technology firm has signed 200 contracts for Agentforce and several thousand are believed to be in the pipeline, Salesforce said during the conference with analysts.
Macroeconomic figures
The American private sector created 146,000 jobs in November after 184,000 in October, according to the ADP survey. Job creations are lower than the consensus of 166,000.
In the United States, the Composite Purchasing Managers’ Index (PMI), which takes into account the manufacturing and services sectors, stood at 54.9 in November compared to 55.3 expected, after 54.1 in October. S&P Global said. The PMI for services increased from 55 to 56.1 between October and November. He was expected at 57.
The Purchasing Managers’ Index (ISM) for the non-manufacturing sector stood at 52.1 in November in the United States, compared to a consensus of 55.5 and 56 in October.
Crude oil inventories fell by 5.073 million barrels last week in the United States compared to a decline of 1.844 million barrels the previous week, according to the American Energy Information Administration. They were expected to fall by 1,600 million barrels. In addition, gasoline stocks increased by 2.362 million barrels while those of distilled products, including domestic fuel oil, increased by 3.383 million barrels.
The Fed’s Beige Book on the health of the economy will be released at 8 p.m.
Values to follow
AT&T
AT&T held an investor day yesterday during which the American firm announced that it would redistribute more than $40 billion to its shareholders in the form of dividends and share buybacks over the next three years. The telecoms giant also announces that it anticipates free cash flow of more than $18 billion in 2027 thanks to 5G and the expansion of optical fiber.
Campbell Soup
In the first quarter of the 2024/2025 financial year, Campbell Soup’s net sales increased 10% to $2.8 billion thanks to the acquisition of Sovos Brands, but fell 1% year-on-year. organic basis. Adjusted Ebit over this period increased by 6% to 432 million euros. Gross profit increased from $788 million to $867 million. On the other hand, adjusted earnings per share fell 2% to $0.89. The agri-food multinational confirms its financial objectives for this financial year.
Eli Lilly
Eli Lilly is expected to rise in pre-market trading on Wall Street after today announcing topline results from the Phase 3b open-label randomized clinical trial, Surmount-5. Its anti-obesity product Zepbound (tirzepatide) provided relative weight loss 47% greater than that of Wegovy (semaglutide) from Dane Novo Nordisk. At 72 weeks, Zepbound beat Wegovy on the primary endpoint and all five key secondary endpoints in this trial of obese or overweight adults with at least one weight-related medical condition.
General Motors
General Motors is expected to fall in pre-market trading on Wall Street after announcing to shareholders the taking into account of two non-monetary charges totaling more than $5 billion on its joint venture in China. One concerns the restructuring of the operation ($2.6 to 2.9 billion), the other of $2.7 billion for the reduction in the value of the joint venture. In China, GM is associated with SAIC Motors in China for Buick, Chevrolet and Cadillac vehicles.
Outlook Therapeutics
Outlook Therapeutics is expected to decline significantly in pre-market trading on Wall Street following the announcement of the resignation of its CEO since 2021, Russell Trenary. This biotech, which obtained regulatory approval in the European Union and the United Kingdom this year for Lytenava (bevacizumab gamma), its drug against wet age-related macular degeneration (wet AMD) in adults, adds that Lawrence Kenyon, executive vice president, chief financial officer since 2015 and board member, has been named interim CEO.
