PARIS (Reuters) – The New York Stock Exchange rose slightly on Wednesday the day after its worst session since the beginning of the year, pending the publication of the minutes of the last meeting of the Federal Reserve.
In early trading, the Dow Jones index gained 56.19 points, or 0.17%, to 33,185.78 points and the broader Standard & Poor’s 500 rose 0.23% to 4,006.54 points.
The Nasdaq Composite took 0.49%, or 56.113 points, to 11,548.414.
At the end of its February meeting, the Fed curbed the scale of its monetary tightening by raising its interest rate by a quarter of a point, against half a point at previous meetings.
Minutes of the meeting, due at 19:00 GMT, could reveal the extent of the debate within the central bank over the need for further rate hikes to rein in inflation and the economy as a whole.
In an interview with CNBC, the chairman of the U.S. central bank’s regional office in St. Louis, James Bullard, said that “sharp” action by the Fed was needed to bring inflation back down. objective, at the risk of reliving the great inflation of the 1970s.
On the bond market, the yield on ten-year US Treasury bonds lost three basis points, around 3.92%, after having come close to the 4% threshold during the session.
Growth stocks such as Tesla (+0.83%), Nvidia (+1.24%), and Amazon (+1.86%) are benefiting from falling bond yields.
The Chinese e-commerce group Baidu took 3.8% after the announcement of quarterly sales above expectations and a new share buyback program.
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(Laetitia Volga, edited by Nicolas Delame)
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