NEW YORK (Reuters) – The New York Stock Exchange ended mixed on Thursday, with the Nasdaq in the red but the Dow Jones at its highest level since January 2022, as Federal Reserve officials try to temper the optimism in the markets after the publication of data confirming the fall in inflation in the United States.
The Dow Jones index gained 1.47%, or 520.47 points, to 35,950.89 points.
The broader S&P-500 gained 17.22 points, or 0.38%, to 4,567.80 points.
The Nasdaq Composite, on the other hand, lost 32.27 points (-0.23%) to 14,226.22 points.
Over the entire month of November, the Nasdaq recorded the strongest growth of the three New York indices (nearly +11%), its best monthly performance since the summer of 2022. The Dow Jones and the S&P-500 took around 9%.
According to data released an hour before Wall Street opened, PCE inflation, a measure of price developments favored by the Federal Reserve, rose in October at its weakest pace since early 2021.
Separately, consumer spending slowed, while weekly jobless claims rose last week, signaling that U.S. activity is also starting to slow.
These indicators have reinforced market expectations, which are betting that the Fed is finished with rate hikes, and that it will begin to ease them quickly, even if the president of the New York Fed, John Williams, has not not ruled out a new rate hike on Thursday if inflation rebounds.
In this context, investors took a positive view of the fact that the oil-producing countries of OPEC+ separated without announcing a common decision on an additional production cut, which would have been likely to raise oil prices. gross and fuel inflation. Some countries, such as Saudi Arabia and Russia, nevertheless intend to maintain their voluntary reductions.
In terms of values, Ford lost 3.1% after estimating the cost of its new social agreement in the United States at $8.8 billion and lowering its profit forecasts for the whole year.
The manufacturer of cancer drugs Immunogen soared 82.6% after the announcement of its takeover, for $10.1 billion, by Abbvie (+2.8%).
(Written by Stephen Culp, Tangi Salaün)
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