On Monday, the American stock markets opened up, like in Europe. Among the main indices, the S&P 500 was up 0.2 percent, the Nasdaq 0.3 percent and the Dow Jones 0.2 percent higher at the opening.
At the top of the exchanges Nvidia started 0.4 percent and Tesla 3.3 percent up.
Fast food giant McDonald’s (-0.6%) reported that comparable sales decreased by one percent year-on-year in the previous quarter. The analyst consensus had expected meager growth. Most recently, McDonald’s comparable sales had declined compared to the comparison period in the pandemic year 2020. Sales waned in all main markets. In the United States, price increases were not enough to compensate for reduced customer visits. The result also fell short of expectations. The fast food market is more broadly in a state of decline as consumers struggle with the weakened purchasing power in recent years.
In the United States, the most anticipated earnings announcements of the week are, among others, the software giant Microsoft and a semiconductor company AMD tomorrow, Meta and Mastercard on Wednesday as well Apple and Amazon on Thursday.
“If everything goes well for the remaining power seven companies, the price correction movement downwards may stop. It may turn out to be a good place for investors to buy”, Silexin director of allocation research Jacques Henry commented to Bloomberg.
Along with the results, the main attention of investors this week is again the central bank of the United States at the Federal Reserve. The head of the Fed Jerome Powell presents the Fed’s July interest rate decision on Wednesday evening Finnish time. No change to the policy rate is expected yet, but Powell’s comments are expected to pave the way for the first rate cut in September after the rate hike cycle of the past few years.
Source: www.arvopaperi.fi
