(AOF) – US markets are expected to open in scattered order on Tuesday, the day after the announcement of Jerome Powell’s reappointment as head of the Fed. Investors continue to show suspicion as they fear that it will launch more quickly than expected in monetary tightening to avoid overheating the economy, and therefore inflation. As for indicators, the November PMIs will be published this afternoon. In addition, Zoom or Best Buy will be to follow. In pre-opening, the Dow Jones gained 0.13% while the Nasdaq gave up 0.2%.
Yesterday on Wall Street
Wall Street ended in disarray after the announcement of the reappointment of Jerome Powell as head of the Fed. Joe Biden has made the choice of continuity by maintaining in his post a moderate Republican. The task before it is immense: to calm the overheating of an economy threatened by inflation without shattering growth. For the markets, the choice to keep Jerome Powell could encourage the latter to accelerate the timing of the rate hike. The Dow Jones gained 0.05% to 35,619.25 points. The Nasdaq lost 1.26% to 15,854.76 points, penalized by the rise of the 10-year American.
In the United States, the purchasing managers’ indices for the manufacturing and services sectors in November will be published at 3:45 p.m.
The values to follow
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.
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