(News Bulletin 247) – Wall Street is moving on an uncertain note on Wednesday, in a market that is cautious on the eve of the publication of monthly inflation figures.
At the end of the morning, the Dow Jones still advanced by 0.1% to 35,330.3 points, but the Nasdaq Composite fell by 0.6% to 13,795.9 points.
The session had started in the green, before the two indices erase their gains due to the wait-and-see attitude of investors before the publication, tomorrow, of the inflation figures.
These monthly consumer price statistics will be monitored all the more as those for the month of June, which were much lower than expected, had dissuaded the prospect of further rate hikes by the Federal Reserve.
A further slowdown in prices could complicate the task of the Fed, which has recently signaled its intention to continue raising interest rates.
Reflecting the market’s indecision, seven of the 11 major S&P sector indices are trading in the green.
That of energy gained 1.7% in the wake of the continued rise in oil prices following the statistics on American oil stocks.
Technology (-1.3%) and telecoms (-0.9%), which have posted the best sector performances since the start of the year, continue to suffer from profit taking.
Apple (-1.1%) continues its downward movement which has now led it to drop more than 10% since the beginning of August, in particular due to lackluster quarterly results.
Disney also takes the path of decline (-0.3%) before the presentation, in the evening, of its quarterly accounts.
On the bond compartment, bond yields continue to ease, with the 10-year now approaching the 4% threshold, at 4.01%.
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