The New York Stock Exchange is set to open higher on Monday morning, buoyed by better-than-expected results from Goldman Sachs and rather reassuring economic indicators.

Half an hour before the opening, futures contracts on the main stock market indices are up 0.8%, suggesting a trend recovery after two consecutive weeks in the red.

Early trading should be buoyed by better-than-expected results from Goldman Sachs, whose quarterly profit rose by 28% on the strength of its capital markets activities.

Following this publication, the New York investment bank's share price climbed almost 4% in pre-opening trading.

Bank of America and Morgan Stanley - which will publish their quarterly accounts tomorrow - are also trending upwards in pre-opening trading.

With earnings season set to intensify this week, investors seem keen to put aside their fears about persistent inflation, which could lead the Fed to delay its rate cuts.

Some 44 companies in the S&P 500 index, including six Dow Jones stocks, are due to publish their accounts this week. Announcements from J&J, Netflix and Procter & Gamble in particular will be closely watched.

The stock market is also being lifted by a number of economic indicators.

The release of retail sales figures, which showed a stronger-than-expected 0.7% rise in March, has in particular bolstered the market's confidence in the strength of the US economy.

The 'Empire State' index - which measures manufacturing activity in the New York region - fell into negative territory for the fourth consecutive month, but improved to -14.3 in April, compared with -20.9 in March.

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