PARIS (Reuters) – The New York Stock Exchange opened in mixed order on Tuesday with the Dow Jones in decline, investors torn between concerns about interest rates in the United States and the mixed results published by several major groups, especially in the banking sector.
Fifteen minutes after the first exchanges, the Dow Jones index fell by 109.53 points, or 0.32%, to 33,877.65 points. The wider Standard & Poor’s 500 rose 0.17% to 4,158.43 points.
The Nasdaq Composite took 0.36%, or 43.18 points, to 12,200.91.
Shortly before Wall Street opened, St. Louis Federal Reserve Chairman James Bullard said the U.S. central bank needed to keep raising interest rates amid recent economic data showing persistent inflation. as the broader economy looks poised to continue growing, albeit at a slower pace.
After the better than expected results published last week by Citigroup, JPMorgan Chase & Co and Wells Fargo & Co, Bank of America Corp (BofA) and Goldman Sachs published contrasting quarterly financial accounts on Tuesday.
The BofA share fell 0.9% and that of Goldman Sachs lost 3.23% while the banking index fell by 0.32% and that of finance by 0.21%, the attention of investors being focused on the slowdown in mergers and acquisitions and a disappointment on bonds.
In other major publications, Johnson & Johnson lost 2.20% despite the conglomerate raising its annual profit forecast. Netflix and United Airlines will publish their quarterly accounts after the close on Wall Street.
Analysts expect first-quarter S&P-500 company earnings to fall 4.8% year on year.
(Written by Claude Chendjou, edited by Blandine Hénault)
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