PARIS (Reuters) – The New York Stock Exchange rose at the open on Tuesday, supported by technology-related stocks, as investors position themselves ahead of the Jackson Hole meeting
In early trading, the Dow Jones index was stable at 34,468.54 points and the broader Standard & Poor’s 500 rose 0.40% to 4,417.43 points. The Nasdaq Composite takes 0.71% or 96.36 points, to 13,593.945.
Nvidia’s results are expected on Wednesday and optimism is in order as the enthusiasm for artificial intelligence was able to support the turnover of the “tech” juggernaut, whose price approached its record during pre-market trading on Tuesday.
Nvidia’s latest quarterly results had been much better than consensus expected, triggering a “rally” that has supported the performance of US equities for the past three months.
Nvidia rose 1.94% at the opening on Tuesday, after gaining almost 9% on Monday.
The other technology stocks progressed in the wake of the chipmaker, supporting all the indices.
Tesla gained 3.05% after climbing 7.3% on Monday, also in the wake of Nvidia.
Moreover, the markets are positioning themselves ahead of the Jackson Hole meeting, during which Federal Reserve Chairman Jerome Powell will speak on the US economy.
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(Written by Corentin Chapron, edited by Bertrand Boucey)
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