(Boursier.com) — Wall Street is expected to be in positive territory before market trading this Monday, with the S&P 500 gaining 0.5%, the Dow Jones 0.3% and the Nasdaq 0.7%. Nvidia is progressing towards its all-time highs in pre-session for a market capitalization of more than 3,500 billion dollars. Jensen Huang’s group could therefore take back the world’s largest capitalization position from Apple today…
On the Nymex, the barrel of WTI crude fell 6% to $67.3, while Israeli strikes against Iran avoided the country’s oil installations and nuclear or civil infrastructure, in line with the administration’s demands. Biden. Tehran aims to use “all available means” to retaliate and show its power to Israel, as Israeli jets carried out pre-dawn strikes Saturday against missile factories and other sites near Tehran and in the west from Iran. An ounce of fine gold appears stable at $2,733. The dollar index lost 0.1% against a basket of reference currencies.
Note that the United States has not yet switched to winter time, unlike Europe. Thus, Wall Street will open at 2:30 p.m. and close at 9 p.m. French time this week.
On the economic front in the United States, the Dallas Fed manufacturing index for October will be published at 3:30 p.m. today (FactSet consensus -9.5).
Tomorrow Tuesday, operators will follow the balance of international trade in goods for September (1:30 p.m., consensus -95.8 billion), wholesale inventories for September (1:30 p.m., stable consensus), the Case-Shiller and FHFA house price indices for the month of August (2 p.m.), as well as the Conference Board’s consumer confidence index for October (3 p.m., consensus 99.3) and the Department of Labor’s JOLTS report on job openings for September (3 p.m., consensus 7.95 million).
Wednesday, the day will be lively with especially the ADP report on private non-agricultural employment for October (1:15 p.m., consensus 108,000 job creations), the advanced GDP figures for the third quarter (1:30 p.m., Bloomberg consensus at the rate of +3%, +3% for personal consumption expenditure). The housing sales promise index for September will be announced at 3 p.m. (consensus +1%).
On Thursday, employment figures will dominate the day, with the Challenger, Gray & Christmas study on layoff announcements for October (12:30 p.m.) and weekly unemployment claims for the week ended October 26 (1:30 p.m., consensus 229,000) . Household income and expenditure for September will be known at 1:30 p.m. (consensus +0.4% for income, +0.4% for expenditure and +0.3% compared to the previous month for the core price index PCE’ followed by the Fed). The third quarter employment cost index will be released at the same time. The Chicago manufacturing PMI will be announced at 2:45 p.m. (consensus 47.3).
Finally, on Friday, investors will follow the monthly report on the employment situation for October (1:30 p.m., consensus 123,000 creations of non-agricultural jobs, 4.1% unemployment rate and 91,000 creations in the private sector). The final US manufacturing PMI for October will be revealed at 2:45 p.m. (consensus 47.5). The manufacturing ISM will be announced at 3 p.m. (consensus 47.6). September construction spending will be released at 3 p.m. (consensus stable).
In corporate news on Wall Street, onsemi and Centerpoint Energy announce before market today, while Waste Management, Welltower, Cadence Design Systems and Ford Motor publish after the close.
AlphabetVisa, AMDMcDonald’s, Pfizer, Stryker, Chubb, Anheuser-Busch Inbev, Mondelez, PayPal, Chipotle Mexican Grill, Spotify, Electronic Arts, Royal Caribbean, Corning, Sysco ou DR Horton, annoncent notamment mardi.
Microsoft, MetaEli Lilly, AbbVie, Caterpillar, Amgen, Booking Holdings, ADP, Starbucks, KLA Corp, Illinois Tool Works, DoorDash, Metlife, Coinbase, Hess, Otis, Carvana, Kraft Heinz, Prudential, MicroStrategy et Allstate publieront mercredi.
Apple, AmazonMastercard, Merck, Uber, Comcast, Eaton, ConocoPhillips, Bristol-Myers Squibb, Southern Company, Regeneron, Intercontinental Exchange, Intel, Cigna, Altria, Parker-Hannifin and Ingersoll Rand, will reveal their latest figures on Thursday. ExxonMobil, Chevron, Enbridge and Charter Communications will be there on Friday.
Values
Boeing announced as expected this Monday a major capital increase of 19 billion dollars in order to avoid a downgrade of its debt rating and to replenish its coffers, put to the test by a series of incidents and a heavy strike. The aircraft manufacturer is therefore proposing to sell 90 million ordinary shares and approximately $5 billion in additional depositary shares. The common stock portion would already total nearly $14 billion based on Friday’s closing price. Taking into account over-allotments, the total fundraising could be up to $21.8 billion, Bloomberg calculates.
Boeing announced the launch of separate and simultaneous underwritten public offerings of 90 million ordinary shares, with a par value of $5 per share, and $5 billion of depositary securities, each representing 1/20th of interest in a convertible security. Boeing plans to grant a 30-day option to purchase up to 13.5 million additional securities and $750 million more in depositary shares to cover over-allotments. Boeing intends to use the net proceeds from the offerings for general corporate purposes, which may include, among other things, debt repayment, working capital additions, capital expenditures, as well as financing and investments in subsidiaries.
breath reported revenues of $1.76 billion (-19%), an adjusted gross margin of 45.5% and an adjusted operating margin of 25.3% for its third fiscal quarter. Adjusted earnings per share were 99 cents. The consensus was for 97 cents in adjusted EPS for $1.75 billion in revenue. “Following third quarter results above expectations, we remain focused on delivering consistent results in the current environment through prudent execution and financial management,” said Hassane El-Khoury, CEO of onsemi. “As power demand continues to increase in our key markets and the need for greater efficiency becomes paramount, we are investing to win across the entire power spectrum to ensure onsemi is best placed to gain share in automotive, industrial and AI data centers.” For the fourth quarter, revenues are expected between $1.71 billion and $1.81 billion, while adjusted EPS is expected between 92 cents and $1.04.
CenterPoint Energy announced a slightly short adjusted profit for its third fiscal quarter at 31 cents per share, compared to 32 cents per share and 9 cents for the corresponding period last year. Revenue was $1.86 billion, compared to a market consensus of $1.93 billion. The group reaffirms its 2024 adjusted EPS forecasts of between $1.61 and $1.63, which would represent an increase of 8% in the middle of the range compared to last year.
Apple is experiencing some difficulties in Indonesia, since the marketing of its new iPhone models is blocked there due to local investment and content constraints. The iPhone 16, launched in September, therefore cannot be marketed nationally because the local unit PT Apple Indonesia did not meet the country’s requirements for 40% national content for smartphones and tablets, a declared the Ministry of Industry, taken up by Bloomberg. The industry ministry said earlier this month that Apple had invested only 1.5 billion rupiah ($95 million) in Indonesia, less than its commitment of 1.7 billion rupiah. Apple has established four developer academies in the country instead of establishing a local manufacturing plant, and CEO Tim Cook said in April that he was studying the feasibility of such an initiative.
