After a positive trading day that interrupted 3 negative trading days, Wall Street will open the last trading day of the week steadily against the backdrop of a flood of reports that were published before the opening of trading. A number of data were published before the opening of trading. March retail sales were up 0.5% from an expected 0.6%. The number of weekly job seekers was 185,000, compared to the expectation of 172,000 new unemployment demands.
In Europe a positive trend after leaving the interest rate unchanged (as expected) the dex rises 0.7%, the kak rises 0.7% and the UK trades at a slight increase of 0.1%. Meanwhile, the European Bank approved the completion of the bond purchase program in the third quarter, slightly earlier than fourth-quarter expectations. The Bank is dealing with the consequences of the war and the rise in inflation in the Union. Meanwhile, Europe does not see an end to the fighting as Moscow threatens Finland and Sweden from joining NATO.
A light crude oil barrel weakens after a rally of several days, dropping 1.2% to $ 103. Gold continues to stay close to $ 2,000, trades at $ 1,978 an ounce and the price of bitcoin continues to be weak it trades around $ 41,000.
Shares in the headlines:
Wells Fargo (WFC) publishes weak reports for the first quarter of the year with a miss in the revenue line and meeting the profit line. The company reports expected credit losses that will increase following the rise in interest rates. The stock is down 3% in early trading.
United Health (UNH) The insurance company easily overtook the profit line and nicely in revenue. The stock that weighs the most in the Dow index loses half a percent in early trading even though it raises the forecast for the rest of the year.
Morgan Stanley (MS) has released pre-trade reports with earnings and earnings that have exceeded market forecasts. The Company enjoyed interest income and volatile income in the stock markets. The company’s shares are up 1.8% in early trading.
Goldman Sachs (GS) provides results that have surpassed forecasts in both the profit line and the revenue line. The bank was one of the biggest earners from two years very busy with business activity on Wall Street and also enjoyed it in the first quarter of 2022. The stock is up 1.7% in early trading.
City Group (C) jumps 3% in early trading after managing to meet market expectations in both the profit line and the revenue line. Bank shares have suffered in the past year and even more in the last two months following the fighting between Russia and Ukraine. The stock fell from a 52-week high to around $ 78 in June to $ 50 levels last week.
Twitter (TWTR) Ayalon Musk tweets that he is interested in turning Twitter into a private company, offering $ 54.2 per share in cash. Twitter said they were considering Musk’s offer with Goldman Sachs and consulting firm Soncini Goodrich.