Wall Street rallied into the weekend break, spurred higher by better than expected, earnings releases and US indices are currently being forecast to start the week relatively unchanged. Corporate earnings are set to remain very much in focus. However, with Citigroup arguably the highest profile company set to release its numbers before the opening bell. With peers JP Morgan and Wells Fargo having beaten market expectations on Friday, expect these numbers to be under close scrutiny.
US-China trade talks also continue, although developments reported overnight do seem to be suggesting that Washington is having to scale back some of its demands surrounding removing government subsidies for Chinese industry, as it is keen to see a deal struck. This perhaps isn’t ideal for US businesses, although if Trans-Pacific trade can be freed up once again then that’s certainly laudable. Economic data is thin on the ground for the day ahead, with the US Empire Manufacturing Index the only point of note. This is expected to move higher from the March figure and would again underline the fact that the US economy continues to see some very positive components of growth.
Ahead of the open the market is quoting the DOW down 10 at 26402 and the S&P down 1 at 2906.
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