PARIS (Reuters) – The New York Stock Exchange opened without much change on Wednesday, with caution prevailing ahead of the expected publication in the evening of the minutes of the last Federal Reserve (Fed) monetary policy meeting.
These “minutes” could give clues on the future trajectory of rates in the United States while the resistance of the American economy pleads for a prolonged restrictive policy.
In early trading, the Dow Jones index was virtually stable at 34,950.73 points and the broader Standard & Poor’s 500 fell 0.08% to 4,433.40 points.
The Nasdaq Composite lost 0.45% to 13,576.38 points.
All three indexes ended down more than 1% on Tuesday after better-than-expected U.S. retail sales data fueled fears that interest rates will remain high for longer than expected.
The industrial production figures for the month of July, published just before the opening, also came out above expectations, with an increase of 1% against +0.3% expected.
In values, Target stands out with a jump of 4.9%, the retail giant’s better than expected quarterly results eclipsing the lowering of its annual forecast.
(Written by Blandine Hénault, edited by Kate Entringer)
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