(AOF) – The trend on the US financial markets is cautious on Tuesday. While Jerome Powell’s re-appointment at the head of the Fed is not in itself a big surprise, it does raise some fears among investors. The fear that the latter could tackle a rate hike earlier than expected in order to stem a potential overheating of the economy. On the statistics side, the preliminary PMIs were broadly in line with expectations. While the Dow Jones gained 0.15%, the S&P 500 and the Nasdaq lost 0.23% and 1% respectively.
Zoom shares slack 19.06% to 196.06 dollars; the commercial conquest of the video conferencing company having disappointed for the second consecutive quarter. The technology firm revealed by the pandemic has not recruited as many customers as analysts anticipated. The company claims 512,100 customers with more than 10 employees, a gain of 18%. Analysts polled by Bloomberg had forecast 516,174 clients. Still positive on value, JPMorgan was targeting 518,785 companies.
Today’s economic figures
The Manufacturing Purchasing Managers’ Index (PMI) stood at 59.1 for November, according to preliminary data from IHS Markit. It was expected at 59, after 58.4 in October. In services, on the other hand, it disappointed, falling to 57, from 59 expected and 58.7 the previous month. The composite PMI stood at 57.7, up from 57.5 expected and 57.8 in October.
The values to follow today
Amazon.com – Apple
The Italian competition authority (AGCM) fined Amazon.com and Apple more than 200 million euros for anti-competitive practices relating to the sale of Apple and Beats products on the e-merchant’s site. Amazon and Apple were sanctioned for entering into a restrictive agreement that did not allow all legitimate resellers of “genuine” Apple and Beats products to operate in the amazon.it marketplace.
Comcast – Disney
NBCUniversal (Comcast) is reportedly considering removing much of its content from Hulu, a platform owned by the Disney group, and making it exclusive to its Peacock platform, according to people familiar with the matter cited by the Wall Street Journal. Under the terms of an agreement with Disney, NBCUniversal has a one-stop window to opt out of the content licensing agreement between the two companies early next year, the daily explains. If it does not exercise this option, the content will remain in place until at least 2024.
JPMorgan is the largest bank in the world from a systemic risk perspective, the Financial Stability Board said. The list of the 30 systemic banks, which are classified into 4 categories, has not changed compared to 2020. JPMorgan is the only bank in the first category and, therefore, the US bank must build up an additional capital cushion of 2.5% of its risk-weighted assets, above the minimum requested.
Pfizer – BioNTech
The European Medicines Agency plans to study on Thursday a possible vaccination with Pfizer and BioNTech’s vaccine against Covid for children aged five to 11. Earlier this month, the United States began vaccinating children aged 5 to 11 against Covid.
Urban Outfitters fell more than 10% in after-market Monday after gaining more than 3% in session. The American retailer focused on “lifestyle” unveiled mixed quarterly results. Its third-quarter net income rose 16% to $ 88.9 million, or 89 cents per share. Analysts were expecting 84 cents. Revenue climbed 16.5% to $ 1.13 billion. The consensus was $ 1.12 billion. But, sales of the “retail” segment increased, on a comparable basis, by 14% while the market was expecting an increase of 15.2%.
Zoom is expected to fall on Wall Street, its commercial conquest having disappointed for the second quarter in a row. The video conferencing company posted third-quarter net profit of $ 340.3 million, or $ 1.11 per share, compared with net profit of $ 198.4 million, or 66 cents per share, a year earlier . The company’s adjusted net income is also $ 1.11 per share. Revenue climbed 35% to $ 1.05 billion.
Receive our latest news
Every morning, the information to remember about financial markets.