NEW YORK (Reuters) – The New York Stock Exchange closed slightly higher on Tuesday amid a cautious and wait-and-see attitude, ahead of inflation figures and the U.S. Federal Reserve’s monetary policy decision due next week.
The Dow Jones index ended in extremis in the green with an increase of 10.42 points or 0.03% to 33,573.28 points, the S&P 500 rose 10.06 points, or 0.24%, to 4,283 .85 points and the Nasdaq Composite gained 0.36% to 13,276.41.
The big three indices appeared to pause as the S&P 500 is up nearly 20% since its lows reached in October 2022, thanks to gains made by “mega-cap” stocks, by an earnings season better than expected and the hope that the US central bank will soon end the monetary tightening cycle.
The market is mostly betting on a status quo on rates in the Fed’s monetary policy decision next week.
Financial stocks posted the strongest rise among the eleven S&P sector indices, with +1.33%.
The Securities and Exchange Commission (SEC), the American stock market policeman, on Tuesday launched legal proceedings against Coinbase Inc, the largest American crypto-asset exchange platform, plunging its title by 12.09%.
Advanced Micro Devices gained 5.34% to 124.23 dollars thanks to the raising of its price target to 150 dollars by Piper Sandler.
(Sruthi Shankar, Shristi Achar A and David Carnevali, Jean-Stéphane Brosse)
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