On Monday, alphabet, Google’s parent company, was among the fallers on the New York stock exchanges. Investors processed a report that South Korean tech group Samsung is considering replacing Google with Bing as the preferred search engine on its mobile devices.
As a result, the alphabet fell by 3.3 percent, and Microsoft, the owner of Bing, gained 0.9 percent.
American bank Charles Schwab gained 0.5 percent after well-received quarterly results. However, investors were not pleased with the figures from branch colleague State Street. As a result, that share was lowered by 14.3 percent.
Last week, major peers such as JPMorgan Chase, Wells Fargo and Citigroup already reported better-than-expected results. These were the first results of the big banks after turmoil in the banking sector in March that followed the collapse of Silicon Valley Bank.
Earnings season continues in full swing this week with quarterly reports from banks Bank of America, Morgan Stanley and Goldman Sachs. Streaming service Netflix and manufacturer of electric cars Tesla will also release figures this week.
In anticipation of the forthcoming data stream, sentiment on Wall Street remained cautious after Friday’s loss. However, shortly after the start of trading, the Dow Jones index was slightly higher at 33,905 points. The broad S&P 500 also rose slightly to 4141 points, and the tech exchange Nasdaq did the same, rising to 12,123 points.
Prometheus Biosciences was worth no less than 69.1 percent more. However, pharmaceutical company Merck is taking over the biotechnology company for almost 11 billion dollars (about 10 billion euros). Merck, known outside North America as MSD, fell 0.1 percent.
Boeing climbed 1.6 percent. The aircraft manufacturer lost almost 6 percent on Friday due to production problems with the 737 MAX aircraft. A part of the fuselage may not be of the desired quality, but aircraft already delivered have not been affected.
JPMorgan fell 0.2 percent. The bank rose almost 8 percent on Friday thanks to a record profit in the first quarter. Due to the unrest at the smaller regional banks in the United States, more customers opened accounts with large banks such as JPMorgan, subject to stricter supervision.