(AOF) – The US equity markets seem on track to widen their losses at the opening. Investors doubt the ability of the economy to withstand inflation and the aggressive response of central banks to curb it. The S&P 500 had its worst semester since 1970. For the Dow Jones, we have to go back to 1962. For the younger Nasdaq, it’s historic. In this context, the manufacturing PMI and the manufacturing ISM for June are awaited with attention. Around 3 p.m., futures on the S&P500 and Nasdaq 100 fell 0.26% to 3,780 points and 0.33% to 11,491.25 points.
Yesterday on Wall Street
US equity markets fell sharply. Investors continue to fear a recession caused by the acceleration of the normalization of monetary policies by the major central banks. While the PCE price index in the United States came out slightly below expectations, household consumption disappointed. However, it represents two-thirds of the American GDP. The Dow Jones index lost 0.82% to 30,775.43 points and the Nasdaq Composite fell 1.33% to 11,028.74 points. Over the half, the S&P 500 fell 21%.
Investors will learn at 3:45 p.m. of the purchasing managers’ index for the manufacturing sector in June and at 4 p.m. of the purchasing managers’ index (ISM) for the manufacturing sector in June.
The values to follow
Warehouse retailer Costco Wholesale has completed the $1.05 billion purchase of the 45% minority stake in Costco-Taiwan. The company now indirectly owns all of Costco Taiwan. He estimates that this purchase will have a positive effect of approximately one percent to one and a half percent on earnings per share.
Negotiations on the takeover of the distributor Kohl’s by Franchise Group have come to an end. Franchise Group had offered a buyout worth $60 per share, subject to due diligence. Kohl’s ended Thursday at $35.69. Kohl’s board of directors explained the current market conditions and increasing credit market stress were not favorable to a transaction.
Computer memory maker Micron is expected to decline due to an unfavorable outlook. In the third quarter, which ended in early June, Micron generated net income of $2.63 billion, or $2.34 per share, compared with $1.735 billion and $1.52 billion, respectively, a year earlier. Adjusted earnings per share came in at $2.59, 15 cents above consensus. Revenue rose 16% to $8.64 billion.
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