In the United States, the stock markets opened higher on Monday. The S&P500 index, which broadly describes the market, was up 0.2 percent, the technology-driven Nasdaq was up 0.1 percent, and the Dow Jones was up 0.4 percent.
A semiconductor company AMD was up 0.5 percent at $149.32 moments after the start of trading. On Monday, the company announced its intention to buy ZT Systemsin in a US$4.9 billion deal to expand its portfolio in chip and artificial intelligence products.
Known for his computers HP was down 2.6 percent at $34.98 after the start of trading. Morgan Stanley downgraded the company’s recommendation to a hold level from a previous add rating, citing the company’s limited potential.
Cosmetics giant Estee Lauderin the stock was down 1.4 percent at $93.63 after the earnings report disappointed investors.
Regarding the earnings period, investors’ eyes are especially on the retail chain this week Target in the earnings report, which will be published on Wednesday before the stock market opens.
Jackson Hole Conference this week
Investors’ eyes are this week on the annual conference of central bankers in Jackson Hole, Wyoming, USA. Concerns about the recession have subsided after recent economic data releases, last week’s strong figures on the development of overnight stays and private consumption promised a still strong economy.
Investment bank Goldman Sachs reduced the probability of a recession in the United States within a year to 20 percent over the weekend. The previous forecast suggested a 25 percent probability.
Later on Monday, the business cycle index for July predicting economic development will be published in the United States. Bloomberg’s the consensus forecast compiled by economists predicts that the index published by the research institute Conference Board will decrease by 0.4 percent. In June, the index fell by 0.2 percent.