Wall Street reopens today after being closed yesterday for the Martin Luther King Day holiday.
The US quarterly season will continue with the publication, shortly before the start of stock market trading, of the according to Goldman Sachs and Morgan Stanley.
The trend of futures on the main US stock indices is in the red: at around 7.25am Italian time, futures on the Dow Jones and S&P 500 are down by around 0.40%, while contracts on the Nasdaq are down by almost 0.60%. .
With regard to the profits of Goldman Sachs, the consensus of analysts interviewed by Bloomberg estimates an EPS of $4.225 on revenues falling to $10.842 billion.
In the case of Morgan Stanleythe outlook is for GAAP earnings per share of $1.06, on revenue slightly declining to $12.479 billion.
The publication of the accounts of Goldman Sachs and Morgan Stanley comes after the release last Friday of the numbers of the other four US banking giants JPMorgan, Citigroup, Wells Fargo and Bank of America, which officially kicked off the trading season on Wall Street quarterly.
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In last Friday’s session, the Dow Jones lost 118.04 points (-0.31%), to 37,592.98, while the S&P 500 rose by just 0.08% to 4,783.83 points.
The Nasdaq Composite was also flat, recording a change of +0.02% at 14,972.76.
On the macro front, US inflation was made known on Friday, measured by the wholesale price index (PPI), which fell by 0.1% in December, following the publication of the other crucial data, the CPI, an index of consumer prices, which rose at a slightly faster pace than estimated, up by 0.3% and 3.4% on a monthly and annual basis respectively.
US retail sales for December will be released today, expected by economists to rise by 0.2% on a monthly basis, after November’s growth of +0.3%.
Wall Street ended the week of trading in positive territory last Friday.
The Dow Jones rose 0.34% on a weekly basis, while the S&P 500 jumped 1.84%. Jump for the Nasdaq, up 3.09%.