The Wall indicators have regained the positive sign

The key indicators of the Wall returned to bullish territory in a session of intense volatility in view of a new barrage of corporate results in the coming days and after the jump in bond yields earlier today to the highest level since 2018.

The index recorded heavy losses last week, with the S&P 500 and the tech Nasdaq losing 2.1% and 2.6% respectively, completing two consecutive weeks of losses. Industrial Dow fell 0.8% in the third consecutive week of losses.

Investment interest in the start of the new week is gathering the new rally in US bond yields as investors expect the Federal Reserve to tighten its policy faster to deal with the highest inflation in the last 40 years. The 10-year yield in the US gains 3 basis points at 2.86%, having climbed earlier to the highest level since December 2018, over 2.88%.

The expected tightening of Fed policy has rekindled concerns about the resilience of the US economy, which is already under pressure from disruptions to global supply chains since the war in Ukraine and massive lockdowns in China. Goldman Sachs chief economist Jan Hatzius and his team estimate that the US economy is facing a 35% chance of entering a recession the next two years, as broadcast by foreign agencies.

Indicators – Statistics

On the board, the Dow Jones gained 54.75 points or 0.16% at 34,502.65 points, while the broader S&P 500 gained 10.91 points or 0.25% at 4,403.49 points. The technology Nasdaq adds 35.66 points or 0.27% to 13,386.17 points.

Of the 30 stocks that make up the Dow Jones industrial average, 13 are moving with a positive sign and 17 with a negative. Goldman Sachs Group gained the biggest gain with $ 9.43 or 2.93% at $ 331.07, followed by Intel with $ 46.80 with an increase of 2.46% and American Express with earnings of 2, 37% to $ 185.46

On the other hand, the three stocks with the biggest losses are Walt Disney (-1.83%), Johnson & Johnson (-1.25%) and Honeywell International (-1.10%).

Meanwhile, quarterly results are expected to continue to monopolize investor interest this week. Bank of America announced today that its quarterly profits fell by $ 1 billion, however, the financial giant managed to exceed the estimates of Wall Street analysts, while recording healthy growth in its loans.

In particular, Bank of America earned $ 7.1 billion, or 80 cents a share, from $ 8.1 billion, or 86 cents a year, a year earlier. Revenue rose to $ 23.2 billion from $ 22.8 billion. Analysts’ average estimates in a FactSet poll put Bank of America earnings at 75 cents per share with revenue of $ 23.1 billion.

Quarterly results from Netflix, Tesla, American Express, IBM and Johnson & Johnson will follow in the coming days.