AOF Wall Street Pre-Open Analysis – US Stock Markets Expected to be in the Green Ahead of Midterm Polls

AOF Wall Street Pre-Open Analysis – US Stock Markets Expected to be in the Green Ahead of Midterm Polls

(AOF) – Like European equities, US equities should open the session higher this week ahead of inflation figures and midterm election results. Americans are called to the polls this Tuesday for elections that will determine majorities in Congress for the next two years. Minutes before the first trades, S&P 500 and Nasdaq Composite futures gained 0.25% and 0.49%, respectively.

Yesterday on Wall Street

US stock markets started the week on a positive note. This week will be marked by inflation figures on Thursday and by-election results on Tuesday. No macroeconomic data was released on Monday. In terms of values, Apple is finally moving forward despite the iPhone 14 Pro’s production issues in China. The Dow Jones Industrial Average rose 1.31% to 32,827 points and the Nasdaq Composite rose 0.85% to 10,564.62. However, the yield of 10 rose to 4.218% by the end of the session.

Today’s economic statistics

No significant statistics were released.

Values ​​to follow today

Crore

Cosmetics and fragrances group Coty posted better-than-expected quarterly sales due to higher selling prices and tepid demand, offsetting the impact of a strong dollar and the company’s slowdown in Russia. Net profit was $125.3 million against $103 million in the previous year. Adjusted EPS improved to 11 cents from 8 cents a year ago. Net income was $1.390 billion, up 1% from the prior year.

DuPont

US chemical company Dupont reported that its third-quarter net sales rose 4% to $3.32 billion, driven by 11% organic sales growth. For the quarter, the group achieved adjusted EPS of $0.82, up 4% year-over-year, and operating EBITDA margin increased 30 basis points to 25.8%. The consensus was 79 cents in earnings per share.

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Google

Renault Group and Google have announced a new phase in their partnership, signing new agreements on the design and production of a “software-defined vehicle,” or the digital architecture of a vehicle defined around software. group. Both partners will develop a suite of software components dedicated to the “Software Defined Vehicle” platform, on the one hand, and on-board and peripheral of the vehicle, on the other hand, deepening synergies and applications. A framework for the group’s “move to the cloud” strategy.

Qualcomm

Renault Group and Qualcomm Technologies have announced the strengthening of their technical collaboration in the development of a centralized electronic architecture dedicated to future generations of “software-defined vehicle” vehicles. The software-defined vehicle platforms will be based on Qualcomm Technologies’ Snapdragon Digital Chassis solutions for digital cockpit, connectivity and advanced driver assistance systems (ADAS).

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Tesla is recalling 40,000 Model S and Model X models produced from 2017 to 2021 due to power steering failure while driving on rough roads, Reuters reported. The electric car maker has released a remote software update to reset the system.

Trip Advisor

TripAdvisor reported net income of $25 million, or 17 cents per share, for the third quarter ended Sept. 30. The online travel company’s adjusted earnings were 28 cents per share, compared with analysts’ estimates of 39 cents.

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"Alcohol evangelist. Devoted twitter guru. Lifelong coffee expert. Music nerd."

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