PARIS (Reuters) – The New York Stock Exchange opened cautiously higher on Thursday, with investors digesting numerous company publications, including those from Tesla and Netflix, before a speech by Jerome Powell, the chairman of the American Federal Reserve (Fed ), scheduled for late afternoon.

In early trading, the Dow Jones index gained 34.58 points, or 0.1%, to 33,699.66 points and the broader Standard & Poor’s 500 rose 0.09% to 4,318.91 points.

The Nasdaq Composite takes 0.13%, or 17.76 points, to 13,332.06.

Jerome Powell is due to speak at 4:00 p.m. GMT in a debate on the economic outlook at the Economic Club of New York. Other Fed officials such as Austan Goolsbee, Raphael Bostic and Patrick Harker are also expected at separate events.

Recent economic data, which demonstrate the resilience of the American economy despite the Fed’s desire to curb demand, are raising fears of prolonged monetary tightening.

“Even if the Fed decides not to increase rates further, the reality of a longer increase for investors is gradually becoming apparent,” notes Raffi Boyadjian, analyst at Forex broker XM.

The yield on 10-year U.S. Treasuries rises more than four basis points to 4.9321%, approaching the 5% threshold last seen in 2007.

In terms of values, Netflix jumped 14.01%, the video-on-demand platform having announced on Wednesday evening that it had acquired nine million additional subscribers in the third quarter – a figure higher than expectations – and was planning an increase in its prices in the United States. United, Great Britain and France.

Tesla, on the other hand, fell 5.74%, the automaker having reported Wednesday evening a gross margin, a profit and a turnover below Wall Street forecasts. Its chief executive, Elon Musk, has expressed concern about the impact of rising interest rates on motorists’ purchasing intentions.

Ford Motor and General Motors fell by 0.69% and 0.02% respectively.

In today’s results, AT&T jumped 6.73% after raising its annual free cash flow forecast, while Las Vegas Sands climbed 4.26%, the casino operator having published a profit and a figure of business better than expected in the third quarter.

Philip Morris International is down 2.58%, with the manufacturer of Marlboro cigarettes forecasting delivery volumes of heated tobacco for the whole year lower than expected.

(Writing by Claude Chendjou, edited by Kate Entringer)

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