NY to ZH – the preliminary report on the US Stock Exchange from New York

NY to ZH – the daily reporting from New York at the start of the US stock exchange.

—

Presented by Swissquote.

In the beginning trading week, the focus is not on the reporting season, but on the large amount of economic data for July.

In addition to the industrial purchasing managers’ index, the activities of the service providers are reported, followed by the initial jobless claims and the US labor market data. As already announced by the central bank, the economic recovery has been losing momentum since July.

For the reporting season, 85% of companies in the S&P 500 have outperformed Wall Street targets by an average of 22%. It is particularly interesting that, despite these data, earnings expectations for 2021 have not been raised and remain at low levels.