(News Bulletin 247) – The New York Stock Exchange ended Tuesday’s session without a marked trend, in the absence of catalysts in the markets: the Dow Jones gained 0.3% to 33,685 points, while the Nasdaq Composite fell 0.4% to 12,032 points.
The beginning of April on the stock market was still just as sluggish, and investors seemed to want to take a break in the face of the announced slowdown in activity, fears surrounding the health of commercial real estate or the drying up of credit.
The restraint of investors was also explained by the imminence of the inflation figures, which should give, on Wednesday, new indications on the timetable for the end of the cycle of rate hikes of the Federal Reserve.
‘The price index will benefit in March from a strong base effect because just a year ago energy prices jumped. The inflation rate should slow down to 5.1%, almost halfway between its peak (9.1%) and the Fed’s target (2%)’, predicted Oddo BHF.
As for values, Caterpillar climbed 2.3%, supported by favorable comments from Jefferies, which reaffirmed its ‘buy’ recommendation and its target price of 300 dollars on the title of the construction equipment manufacturer.
Moderna, on the other hand, fell 3.1%, although the laboratory reported progress for its mRNA vaccine portfolio, including the development of new candidates against Lyme disease and norovirus.
Before the opening by JPMorgan Chase (+0.5%), Citigroup (+1.4%) and Wells Fargo (+1.9%) of the ball for quarterly publications in the United States on Friday, the major American banks have advanced in unison or almost.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
