(Reuters) – The New York Stock Exchange opened lower on Tuesday, amid caution ahead of Wednesday’s release of inflation figures, which are expected to provide further clues about the Federal Reserve’s (Fed) rate plans of interest.

In early trading, the Dow Jones index lost 81.12 points, or 0.23%, to 34,582.60 points and the broader Standard & Poor’s 500 fell 0.35% to 4,471.86 points.

The Nasdaq Composite lost 0.44%, or 61.05 points, to 13,856.84.

Tesla’s surge on Monday following optimistic comments from Morgan Stanley on its Dojo supercomputer gave way to a more cautious session on Tuesday, with technology stocks suffering from Oracle’s disappointing outlook and investors remaining focused on the company’s figures. US inflation expected on Wednesday.

This data is expected to provide more insight into the future trajectory of the Fed’s monetary policy, with markets betting on a pause at the next meeting on September 20.

However, the recent rise in oil prices due to supply cuts from producing countries and the strength of economic data have renewed concerns about the persistence of inflation, reinforcing doubts about the end of rate hikes in the UNITED STATES.

Thomas Hayes of Great Hill Capital LLC believes that, in this context, inflation data released between now and November will be “crucial”.

In terms of values, the provider of dematerialized IT services Oracle, which announced Monday evening that it anticipated a turnover for the current quarter lower than analysts’ expectations, lost 10.9%.

Acelyrin for its part lost 60.8% while its main experimental drug izokibep has not demonstrated its effectiveness in reducing the symptoms of a chronic inflammatory skin disease.

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(Written by Diana Mandiá, edited by Blandine Hénault)

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