(AOF) – US stock markets are expected to be in the green as investors take notice of inflation data across the Atlantic. Consumer prices there rose slightly more than expected in February. On the value side, Oracle, trending sharply upward, will be in the spotlight this Tuesday, after the database giant beat quarterly profit estimates last night. Minutes before the first exchange, S&P and Nasdaq futures rose 0.53% and 0.74%, respectively.
On Wall Street yesterday
US stock markets ended a quiet session in terms of both companies and economic data in a mixed order. In this context, the first major economic meeting of the week is scheduled for Tuesday, with inflation in February. On the value side, Boeing is reeling and closing in last place on the Dow Jones index. The Dow Jones index rose 0.12% to 38769.66 points and the Nasdaq Composite fell 0.41% to 16019.27 points. Wall Street closed in the red on Friday.
Macroeconomic Statistics
The US consumer price index rose 3.2% year-over-year in February, compared with consensus and January’s 3.1%. The monthly increase is expected to be 0.4% after a 0.3% rise in January. Core inflation, a measure monitored by the Fed, rose to 3.8% against the consensus of 3.7% year-on-year. On a monthly basis, it rose 0.4% against the consensus of 0.3%
Values to follow
Alaska Airlines
Alaska Air Group reported a smaller-than-expected first-quarter loss on Tuesday, citing strong travel demand. According to Reuters, the company expects an adjusted quarterly loss per share of 55 to 45 cents per share, compared with a loss of $1.18 per share, according to the LSEG consensus. First quarter guidance projects an impact of 30 cents per share due to the temporary grounding of Boeing Max 9 aircraft following the accident.
Kohl’s
Kohl’s, whose stock fell 5.5% in pre-market trading, reported a net profit of $186 million, or $1.67, for its fiscal fourth quarter, compared with a loss of $273 million, compared with the consensus estimate of $1.28 per share. Turnover fell 1.1% to $5.71 billion. Analysts expected $5.7 billion in revenue. For 2024, adjusted earnings per share are expected between $2.10 and $2.70.
Oracle
Oracle Cloud Infrastructure (OCI) is expected to see strong growth on Wall Street due to stronger-than-expected growth and a solid order book. In the third quarter ended in late February, the professional software publisher reported a 27% rise in net profit to $2.4 billion, or 85 cents per share. Adjusted earnings per share came in at $1.41, beating consensus by 3 cents. Market-adjusted revenue rose 7% to $13.3 billion.
Southwest Airlines
Wall Street is expected to drop sharply in pre-market trading after Southwest Airlines once again cut its Boeing aircraft delivery forecast, forcing it to cut capacity in the second half of 2024. 46 737-8 aircraft expected in 2024, less than 79 737 MAX aircraft expected. Southwest previously converted dozens of MAX 7 orders to MAX 8 orders in 2024 to avoid delays.
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Tesla rose 1% in pre-market trading as the group announced that power had been restored at its factory in Berlin. “It will certainly be some time before we fully resume production, but the most important step has been taken,” said owner Andre Thierig.
