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Damien Mezinis
(Boursier.com) – Wall Street ended its trend without trend on Monday night, around the balance, while oil prices fell sharply, more than 4% … On the corporate side, Bank of America took advantage of its quarterly publication to regain market share, pending Goldman Sachs accounts tomorrow. On the economic front, US retail sales are broadly in line with expectations. Finally, in the political news, Donald Trump met Vladimir Putin on Monday in Helsinki in order to appease the relations between the two countries … The DJIA gained 0.18% to 25.064 pts, the Nasdaq yielded 0.26% to 7.806 pts, close to its historic highs last weekend, and the S & P500 corrected 0.10% to 2.798 pts.
US retail sales for the month of June 2018 came out an increase of 0.5% compared to the previous month, against + 0.5% of consensus of place and + 1.3% for their revised reading in May. The reading of the previous month is revised up sharply, from + 0.8% to + 1.3%. Excluding cars, retail sales climbed 0.4% in June, in line with market expectations, after a gain of 1.4% for May 2018. The reading of May was before + 0.9%. Excluding cars and gasoline this time, these same US retail sales would have risen 0.3% in June 2018, compared with the previous month, against + 0.5% consensus and 1.3% for the revised reading. of May. The previous estimate for May was + 0.8%.
The New York Fed's 'Empire State' manufacturing index for the month of July stands at 22.6 against a consensus of 21 and a level of 25 a month earlier. It still reports a good expansion, but also reflects a slight slowdown in growth compared to the previous month.
Stocks of US companies for the month of May 2018 were up 0.4% compared to the previous month, in line with expectations
According to the National Bureau of Statistics in China, China's GDP growth is 6.7% over the period April-June, in line with the consensus, compared to 6.8% in the first quarter. Industrial production rose by only 6% in June, up from 6.5% consensus.
On the Nymex, a barrel of WTI crude dipped by 4% to $ 68, and Brent corrects more than 4% also under the $ 71.8. Concerns about the possible disruption of the oil supply seem already forgotten, with the reopening of Libyan ports and the possible increase of Russian production.
VALUES TO FOLLOW
Bank of America (+ 4%) released its second quarter results. The net result stands at $ 6.78 billion, against $ 5.11 billion a year earlier. Earnings per share are $ 0.63, compared to $ 0.44 a year ago. Revenues fell by 1%, to $ 22.6 billion. Analysts on average expected a quarterly EPS of $ 0.57, for revenues of $ 22.3 billion. In the 'world markets' division, 'sales & trading' revenues amounted to $ 3.4 billion (+ 6%) and stood at $ 3.6 billion excluding debit valuation adjustment (DVA). of 7%. Equities rose 17% to $ 1.3bn, and FICC revenues rose 2% to $ 2.3bn.
BlackRock (-1%) released second quarter results. Revenues rose 11% to $ 3.6 billion. Net income rose 26% to $ 1.07 billion, showing earnings per share of $ 6.62, compared to $ 5.20 a year earlier. On an adjusted basis, the EPS is $ 6.66 compared to $ 5.22 for the same period last year. Analysts on average expected a quarterly EPS of $ 6.55, for revenues of $ 3.6 billion.
Boeing (+ 1%) displays a beautiful harvest for the first day of the air show from Farnborough. The American aircraft manufacturer has announced an order for 30 B737 MAX from Jackson Square Aviation. A contract valued at $ 3.5 billion at list price. The order was so far badigned to an unidentified customer in the Boeing log. The aircraft renter becomes the 100th client of the 737 MAX program. Goshawk Aviation Limited will acquire 20 B737 MAXs, a $ 2.3 billion contract at list price. This is the first order placed directly by the Dublin-based company with Boeing. Boeing had opened the Farnborough Salon on an order of 777 Freighters. DHL will acquire 14 cargo aircraft and has placed an option on 7 additional aircraft. The contract is valued at $ 4.7 billion at the list price … Qatar Airways, which had committed 5 B777 Freighters last April, has confirmed its order at the show. The group will also sell 5 B737 MAX 8 to TAROM. The Romanian company has signed a firm purchase agreement. The contract was so far awarded to an anonymous customer in the American aircraft manufacturer's order book.
United Airlines (stable) renewed part of its fleet with the order of 25 Embraer E -175 and 4 Boeing 787-9. The devices will be delivered respectively from 2019 and 2020. The global order reaches $ 2.3 billion at list price. The new E-175s will replace the Bombardier CRJ-700s from United's regional subsidiary, while the Dreamliners, equipped with the latest Polaris business headquarters, will replace other wide-body aircraft, the Chicago-based carrier said. [19659005] General Electric (stable). For its part, the boss of GE Aviation says expect to garner more than $ 15 billion of orders during the same show in Farnborough. David Joyce talks about orders and commitments
Goldman Sachs (+ 2%) will release tomorrow, Tuesday July 17th, before the opening of US markets, its second quarter results. Analysts expect average earnings per share of $ 4.66, for revenues of $ 8.7 billion. A year before, over the same period, the US banking giant had recorded earnings per share of $ 3.95, for revenues of $ 7.89 billion
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