(News Bulletin 247) – Wall Street evolved on an irregular note on Wednesday, supported on the one hand by the good performance of energy but affected on the other by a certain wait-and-see attitude on the eve of the publication of new figures from the inflation.
At midday, the Dow Jones fell 0.2%, but the Nasdaq Composite rose 0.4% to 13,615.3 points.
Investors are cautious ahead of tomorrow’s announcement of the latest figures from the Federal Reserve’s preferred measure of inflation, the so-called ‘PCE’ price index.
Lower than expected figures could complicate the task of the Federal Reserve, which intends to raise interest rates again by the end of the year.
A sharp rebound in oil prices (+2% to 69.2 dollars for the WTI) nevertheless maintains the resistance of Wall Street following the announcement of a sharp weekly decline in US crude oil inventories.
Despite the rise in energy stocks, it was indeed the S&P sector indices for telecoms and non-essential consumption that posted the best performances of the day.
High technology does not suffer too much from information from the Wall Street Journal according to which the American administration is considering limiting exports of chips for artificial intelligence (AI) to China.
Regarding stocks, General Mills fell by 4% after disappointing quarterly results, which were not overshadowed by the announcement of an increase in the quarterly dividend.
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