Mid-session analysis AOF Wall Street – Slight rebound on the New York market

(AOF) – Wall Street offers a slight rebound this Friday. The context remains marked by the war in Ukraine and the lack of concrete progress in the negotiations. This afternoon, the Kremlin also warned that the attack by the Ukrainian army on a Russian oil depot will weigh on the talks. In terms of statistics, job creations and the ISM manufacturing index came out below expectations. Around 5:20 p.m., the Dow Jones grabbed 0.14% to 34,726.5 points and the Nasdaq Composite advanced 0.26% to 14,256.51 points.

video game distributor GameStop (+2.68% to $171.05) said it plans to ask shareholders to approve a stock split in the form of a stock dividend, according to an SEC filing. It will ask them, at its next annual meeting, to approve a proposal to increase the number of Class A shares from 300 million to 1 billion.

Today’s economic figures

The US economy created 431,000 jobs non-agricultural in March 2022. The Reuters consensus was for 490,000 after 750,000 in February 2022 (revised figure of 678,000). The unemployment rate came out at 3.6%, against 3.7% expected and 3.8% in February 2022.

In the United States, Index IManufacturing MS for March 2022 came out at 57.1, after 58.6 in February 2022. The Briefing.com consensus was for 58.3 for March 2022.

In the United States, the construction expenses increased by 0.5% in February 2022, after +1.6% in January 2022 (figure revised from +1.3%). The Briefing.com consensus expected +1% for February 2022.

In the United States, the index Manufacturing PMI of S&P Global finally came out at 58.8 in March 2022, against 58.5 during the preliminary estimate, and after 57.3 in February 2022. “The growth of the American manufacturing industry accelerated in March, strong demand and an improving outlook having countered the headwinds of soaring costs and the war between Russia and Ukraine,” commented Chris Williamson, Chief Business Economist at S&P Global.

The values ​​to follow today

GameStop

Video game distributor GameStop said it plans to ask shareholders to approve a stock split in the form of a stock dividend, according to an SEC filing. It will ask them, at its next annual meeting, to approve a proposal to increase the number of Class A shares from 300 million to 1 billion.

Macy’s

Macy’s announced yesterday that it will open a fulfillment center in China Grove, North Carolina in 2024, which will employ 2,800 people. The facility, which will span 1.4 million square feet and cost $584 million, will represent 30% of the famous department store brand’s digital supply chain capacity.

Raytheon

Good news for Raytheon. The American defense group has won a contract worth $651 million from the US Navy to supply SPY-6 radars. Including all options, the total amount of the contract could reach $3.2 billion.

Stellantis

Following exclusive negotiations which began on December 17, Stellantis has entered into new framework agreements with BNP Paribas Personal Finance (“BNPP PF”), Crédit Agricole Consumer Finance (“CACF”) and Santander Consumer Finance (“SCF”) ) aimed at revamping the current configuration of Stellantis’ financing activities in Europe.

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