PARIS (Reuters) – The New York Stock Exchange rose moderately at the opening on Wednesday, with investors digesting the latest data published before a session which should be calm.
In early trading, the Dow Jones index gained 123.94 points, or 0.35%, to 35,212.23 points and the broader Standard & Poor’s 500 rose 0.45% to 4,558.53 points. The Nasdaq Composite takes 0.75% or 106.65 points, to 14,306.633.
The minutes of the Federal Reserve’s latest monetary policy meeting, published on Tuesday, were considered unsurprising and did not change market rate expectations.
Investors continue to bet that the Fed will cut rates as early as June 2024, with some market participants even anticipating that the first rate cut could come as early as March.
The markets are expected to be calm this Wednesday, while many participants are already on vacation before Wall Street closes on Thursday for Thanksgiving and a shortened session on Friday.
In terms of values, NVIDIA lost 0.56% after reporting on Tuesday a turnover forecast above expectations for the fourth quarter, citing more fluid supply chains, but with sluggish sales in China.
Deere, the agricultural equipment manufacturer, lost 6.03% after forecasting a 2024 profit lower than analysts’ expectations on Wednesday, under the influence of weakening demand.
(Written by Corentin Chappron, edited by Bertrand Boucey)
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