(News Bulletin 247) – After a positive opening, the New York Stock Exchange is moving on a more uncertain note on Monday, with investors hesitant to seize the buying opportunities offered by the recent decline in equities.

One hour after opening, the Dow Jones fell 0.5% to 34,328 points, while the Nasdaq Composite advanced 0.5% to 13,359.7 points.

US stock markets are struggling to find a clear direction in the absence of new economic indicators and leading corporate results.

The S&P 500, the benchmark index for American fund managers, has dropped nearly 5% since the beginning of August, which brings its progression for the year as a whole to around 14%.

Even three consecutive weeks of decline does not seem to be enough to convince investors to embark on a bargain hunt.

On a sectoral level, the biggest increase of the day is however to be put on the asset of the index of technological stocks (+ 1%), which benefited from some buybacks on the cheap, starting with Moderna (+ 7.7 %).

Nvidia (+4.5%) recorded one of the best performances in the sector, taking advantage of market optimism two days before the publication of its quarterly results.

Conversely, the utilities index (-1.2%) posted the biggest drop of the day, in a context of rising interest rates which made the dividends paid by the sector less attractive.

On the bond market, the yield on 10-year Treasuries, at the center of all attention, rose again to reach new 15-year highs at 4.35%.

Crude prices are on the rise on the New York NYMEX market, supported by the arrival of the hurricane season in the United States, with a September contract on American light crude (West Texas Intermediate, WTI) which gains 0.2% to $81.5.

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