Uncertain futures on Wall Street: at about 12.50 pm Italian time, futures on the Dow Jones rise by 0.32%, those on the S&P 500 advance by 0.29%, while those on the Nasdaq fluctuate slightly above parity, rising by 0 07%.
Wall Street is back from its best week since June, which saw the Dow Jones rise 4.9%, the S&P 500 rise 4.7% and the Nasdaq Composite jump 5.2%.
A significant assist came from the world of corporate America with the quarterly season. Contributing to the weekly base gains were the buys flocked in last Friday’s session, leading the Dow Jones to rally over 700 points and the S&P 500 and Nasdaq both flying 2.3%.
Interviewed by CNBC David Donabedian, head of investments at CIBC Private Wealth US, wrote in a note that the impression is that of witnessing a “market that goes in two directions”.
“We have a struggle between those who are skeptical and those who believe it is a good time to own shares,” Donabedian pointed out. A fight is practically taking place on the markets between bulls and bears, between bulls and bears.
So far, the publication of the quarterly reports has had mixed effects on equities: on Friday, the prices of the US banking giants Goldman Sachs and JP Morgan Chase have gained more than 4%, while Snap has capitulated by 28% after the publication of the accounts.
This week we get to the heart of the US Big Tech quarterly, with the accounts of Apple, Alphabet, Amazon and Microsoft.
The other US Big Tech, Tesla, is highlighted in the premarket, whose stock drops by about 3% after the decision of the electric car giant founded and managed by Elon Musk to lower the prices on some vehicles sold in China. Tesla has cut the list prices of the Model 3 and Model Y in China by up to -9%.