New York (AFP)

Wall Street climbed Monday at the opening, resuming its record race at the edge of a week rich in events such as the start of the results season and the signing of the Sino-American agreement.

The flagship index of the New York Stock Exchange, the Dow Jones Industrial Average, appreciated by 0.12%, to 28,858.38 points, around 14:45 GMT.

The highly technological Nasdaq rose 0.29% to 9,205.23 points, and the broad S&P 500 index rose 0.20% to 3,271.91 points.

Wall Street had finished in the red Friday after a report on employment in the United States in half-tone, which did not prevent the Dow Jones to post up 0.7% on the week and the 1.8% Nasdaq, thanks in particular to the geopolitical lull between the United States and Iran.

The indices, which ended at unprecedented levels on Thursday, started again on Monday as the big companies in the New York market are preparing to release their quarterly figures.

The big banks JPMorgan Chase and Citigroup will kick off this season of results unofficially on Tuesday.

According to analysts' estimates compiled by FactSet, earnings per share for S&P 500 companies are expected to decline 2% in the fourth quarter. If these forecasts are confirmed, it would be the fourth consecutive quarter of decline for this benchmark indicator on Wall Street for corporate profitability.

However, "over the past five years, businesses have on average exceeded expectations by 3.6 percentage points," said Nicholas Colas of DataTrek. Also, if the quarterly figures are in line with this trend, "earnings per share should actually show up 1.6%".

The sectors that should benefit from the strongest growth are utilities such as electricity, finance and health. Those who should suffer the most are energy and consumer discretionary goods.

Market players are also awaiting the signing on Wednesday of the partial trade agreement concluded between the United States and China. The text will then be made public in its entirety, which will make it possible to know the details.

They will also be looking at indicators on consumer prices on Tuesday and retail sales on Thursday.

On the bond market, the rate on the 10-year debt of the United States rose to 1.851%, against 1.820% on Friday at the close.

© 2020 AFP