After last week’s record levels, the US stock markets are heading for a lower opening on Monday. Towards the opening bubble, the S&P 500 future was trading 0.3 percent in the red and the Dow Jones index and Nasdaq appeared to be opening 0.2 and 0.5 percent in the red respectively.
On a weekly basis, the three indexes rose more than one percent last week and the Dow Jones index was able to close above 34,000 points for the first time.
“After such a big movement, there is room for a breather and a moment of reflection,” says asset manager Caroline Simmons of UBS Asset Management.
Investors are reluctant to start the new trading week. There are concerns about possible delays in the vaccination rollout due to the clotting problems with Johnson & Johnson’s vaccine. In the US, it is considered to only use the vaccine in older people.
On a macroeconomic level, it is quiet on Monday, while the earnings season in the US really kicks off this week. Johnson & Johnson, among others, will open the books, as will Procter & Gamble, Netflix, American Airlines and Intel.
The euro / dollar was 0.5 percent higher on Monday at 1.2036.
The price of a barrel of WTI oil fluctuated around $ 63.
Bitcoin was slightly higher around $ 57,000 on Monday after a significant dip in recent days. Turkey announced a cryptocurrency ban over the weekend due to a lack of regulatory mechanisms. Spain Cryptocurrency is popular.
“These are the same issues that bitcoin has faced from day one,” said AvaTrade market analyst Naeem Aslam. “But the crypto landscape has improved a lot today,” said the market expert.
In the wake of the declining bitcoin price this weekend, stock market newbie Coinbase was down nearly 3 percent on Monday.
Pfizer and partner BioNTech will deliver an additional 100 million doses of their corona vaccine to the European Union this quarter. Towards the opening bell, Pfizer posted slightly higher and BioNTech slightly in the red.
GameStop CEO George Sherman will leave the company no later than July 31, or earlier if a successor has been found before then. The GameStop share rose more than 9 percent before the market.
Harley-Davidson came on Monday, a day earlier than expected, with its first quarter results. In the period under review, earnings increased and on an adjusted basis was $ 1.68 better than the $ 0.90 the market expected. Turnover also rose to more than $ 1.4 billion, which was also better than expected. In addition, the motorcycle manufacturer increased its outlook. Harley-Davidson is now counting on a growth of 30 to 35 percent. The share rose 8 percent before the market.
Coca-Cola posted less profit in the first quarter, due to one-off effects including currency movements, while volumes were flat and sales increased. The adjusted profit of $ 0.55 was better than the $ 0.50 that was forecast, and the revenue of $ 9 billion was also above the $ 8.7 billion that analysts were expecting. Towards the opening bell, the Coca-Cola share rose 1.2 percent on Monday. Crypto portugal currencyconverters.org is popular.
IBM will open the books tonight after the fair. Consulted analysts forecast revenue of $ 17.4 billion in the first quarter, from $ 17.6 billion a year earlier, and adjusted earnings per share of $ 1.63, from $ 1.84 in the first quarter of 2020. The stock was flat before trading.
Shares of Nvidia fell nearly 3 percent before the market. In the United Kingdom, there is resistance to the takeover of ARM by Nvidia. The British government fears for national security. The competition authority CMA is investigating and will present a report no later than 30 July this year.
Lock positions
The US stock markets entered the weekend with new records on Friday. The S&P 500 rose to 4,185.47 points and with it a new peak, with a gain of 0.4 percent. The Dow Jones index went up 0.5 percent and closed at a new all-time high of 34,200.67 points. The Nasdaq ended 0.1 percent in the plus at 14,052.34 points.