The Dow Jones index advanced by 0.17% and the S&P 500 by 0.15% while the tech-dominated Nasdaq gave up 0.06%.

Wall Street had finished slightly higher on Friday. The Dow Jones had nibbled 0.07% to 33,918 points, the Nasdaq index had gained 0.11% to 13,094.25 points and the broader S&P 500 index had gained 0.09% to 4,156 points. Over the week, all three indexes had lost less than 0.5%.

"So far, earnings release has been mixed, which is why stocks declined last week," Schwab analysts said.

Overall, they expect earnings per share to decline by 6.2%, which portends "a recessionary season for earnings".

The week began with the quarterly accounts of Coca-Cola, which posted growth in volume sales despite its price increases, which it intends to continue in 2023.

The maker of Sprite and Fanta posted a 5% increase in earnings per share excluding special items, a figure above expectations.

The Atlanta group's share was up 0.89% around 13:40 GMT. Results from rival PepsiCo are expected on Tuesday.

This day will be one of the most provided in results of companies including those of General Electric, Raytheon, General Motors, UPS and McDonald's.

To this we must add, after the closing, the big names of technology Alphabet, the parent company of Google, and Microsoft.

They will be followed on Wednesday by Meta (Facebook) as well as Amazon and Intel on Thursday.

"But the week is not defined only by corporate results," said Patrick O'Hare of Briefing.com.

Among a host of forecasted indicators, the most watched will be the first estimate of gross domestic product (GDP) on Thursday, where growth in the world's largest economy is expected to slow in the first quarter.

Friday will be published PCE inflation for March based on household spending, the favorite measure of the US central bank (Fed) to gauge the rise in prices.

It is also expected to slow down, but analysts fear that it will remain tenacious for the so-called "underlying" component, excluding food and energy.

Investors' attention to the indicators will be all the more intense as the Fed prepares for a monetary meeting next week.

Markets are increasingly believing (at 90%, according to CME's futures) a further rate hike of 25 basis points. This would bring these overnight rates to between 5% and 5.25%.

But, at the same time, "there is also concern about the fallout from recent banking difficulties that could slow the economy," warned Art Hogan of B. Riley Wealth Management.

"Many are wondering whether the tightening of credit conditions caused by last month's banking stress will lead to a decline in investment and spending and therefore weigh on growth," the analyst added.

The regional bank First Republic Bank is due to announce its results on Monday which will show to what extent there was a leakage of deposits in the first quarter.

The stock climbed more than 8% around 14:10 GMT.

In the bond market, yields on 10-year Treasuries fell by 1% to 3.53% from 3.57% at the previous close.

© 2023 AFP