Wall Street wakes up on positive ground. Johnson & Johnson up 4%

Wall Street started the session mostly green, on a day marked by the acceleration of “income-earning season” in North America and as investors digested the possibility of a more aggressive “hawk” monetary policy to counter rising inflation.

The global index started the day with distinction, adding 0.15% to 4,398.96 points, followed by the Dow Jones Industrial Average, which rose 0.39% to 3,4545.53 points. The Nasdaq Technology Composite Index continued to trade on the waterline, dropping 0.04% to 13,329, 48 points.

The market is absorbing the words of the President of the US Federal Reserve (Fed) in St. Louis, James Bullard, who said that the central bank is not ruling out the possibility of increasing the fed funds rate by up to 75 basis. points. The last time the United States recorded an interest rate increase of this magnitude was in 1994.

According to Bloomberg, investors expect the Fed to raise interest rates by half a percentage point in May, continuing the “hawkish” monetary policy set at the central bank’s last meeting in March.

Jeffrey Haley, an analyst at Oanda, noted that “Bullard’s comments sum up the dilemma faced by many central banks around the world.” “Central banks can now catch up with strength [as taxas de juro]but they face recession risks,” the expert warns.

During Tuesday’s session, Chicago Fed President Charles Evans will speak. The market will also be interested in the release of third-quarter results from Netflix, and is already absorbing the numbers provided by Johnson & Johnson before the start of the session for the same period.

The parent company of one of the most popular covid-19 vaccines reported a profit of $5.15 billion in the first quarter of 2022, down 17% year-over-year, and slightly up from analyst estimates.

Earnings per share for J&J between January and March were $2.67 per share, above expectations of $2.58 from analysts polled by FactSet.

Shares in the broadcasting company were up 0.28% at $338.67 a moment ago, while shares in the pharmaceutical company were up 4.06% at $184.88.