PARIS (Reuters) – The New York Stock Exchange is stable on Wednesday in early trading on the eve of the publication of monthly inflation figures in the United States which could tip the balance a little more in favor of a new break on rates in September.
The Dow Jones index lost 12.86 points, or 0.04%, to 35,301.63 points and the Standard & Poor’s 500 was unchanged at 4,499.04 points.
The Nasdaq Composite lost 0.07%, or 9.324 points, to 13,875.
The consumer price index for July, expected on Thursday, should show a slight acceleration at an annual rate of 3.3% and an increase of 4.8% for underlying inflation, as in June.
On Tuesday, Philadelphia Fed President Patrick Harker said the US central bank might be able to leave rates unchanged barring a sudden change in the direction of economic data.
However, other Fed officials continue to lean toward further tightening: Governor Michelle Bowman said Monday that the combination of still-high inflation and continued growth made further hikes likely.
According to the CME FedWatch barometer, investors believe that the probability of a status quo on rates in September is more than 86%.
(Laetitia Volga, editing by Kate Entringer)
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