Wall Street starts mixed in the week with more banking results
Major stock exchanges in North America opened without a specific trend, as investors are still digesting the start of the banking results season that began last Friday and which boosted Wall Street indexes.
The wave of optimism is expected to continue this week, with 41 North American giants submitting their accounts. Among them are Bank of America and Citigroup. Johnson & Johnson and Netflix.
“We ended Friday's trading very strong thanks to bank earnings results,” Michael James of Wedbush Securities told Reuters. “JPMorgan was clearly the highlight, helping the banking index jump 3%, which created a tone of optimism.”
The S&P 500 advanced 0.25% at the time of opening to 5,829.81 points, which is the new maximum opening, While the Nasdaq Composite Index added 0.72% to 18,474.51 points. The Dow Jones Industrial Average continued its decline, falling 0.22% to 42,769.65 points.
Among the main market movements, Boeing's stock fell 2.75% after the company laid off 17,000 workers, as a result of higher losses in the quarter presented on Friday.
Tesla is recovering from last week's 13% drop, after introducing “robot taxis.” Among the “magnificent seven,” shares of Apple and Nvidia rose 3%.
In addition to corporate results due this week, US economic data should also focus attention, especially retail sales, which will be released on Thursday. Investors are looking for clues about the health of the economy, and although they have trimmed their bets on a 50 basis point interest rate cut by the Federal Reserve, Bets on a 25 basis point cut remained practically intact, at about 84%, according to data compiled by Reuters.
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