Trading week in New York is expected to open today (Tuesday) in the red territory, and this after yesterday no trading took place due to Martin Luther King Day. The indices are expected to open the week with lower rates after 6 consecutive trading days of increases in the NASDAQ 100 index and 4 trading days of increases in the S&P 500 index.
Before trading Morgan Stanley and Goldman Sachs published reports, Morgan Stanley published results above expectations thanks to the strength of the capital management division and it is up about 2% in early trading. On the other hand, Goldman Sachs missed out on both the profit line and the revenue line, the stock losing about 2.5% in early trading.
The yields on the 10-year bonds are rising today after last week they touched the lowest since December close to a yield of 3.4%, now the yields are rising to 3.57%.
Report season kicks into high gear this week and on Wednesday Netflix will report after the close of business. The report seasons will accelerate this week and will reach its peak in the next two weeks with reports of about 70% of the S&P 500 index.
In Europe, the stock markets are stable, the DAX and the KAC are trading unchanged and are waiting for the direction of the US markets. In Asia, the trend is mixed, the Nikkei rose 1.2%, the Kospi and Hong Kong lost about 0.8%.
reporting companies
Morgan Stanley beat forecasts for the quarter and posted a profit of $1.31 per share on revenues of $12.75 billion. Forecasts were for a profit of $1.19 per share on revenues of $12.64 billion. Income from investment banking fell by 49% compared to the same period last year.
Microsoft (MSFT) will add ChatGPT artificial intelligence software to its Azure cloud storage services. Bloomberg reported an investment by Microsoft in the amount of 10 billion dollars based on a company value of 29 billion dollars.