PARIS (Reuters) – The New York Stock Exchange opened lower on Wednesday, consolidating after the rally triggered by the Federal Reserve and before new data releases.
In early trading, the Dow Jones index lost 82.02 points, or 0.22% to 37,475.90 points and the broader Standard & Poor’s 500 fell 0.24% to 4,756.92 points. The Nasdaq Composite lost 0.20% or 29.86 points, to 14,973.362.
US markets are consolidating after the rally triggered by the Federal Reserve’s latest decision, with investors now convinced that a rate cut is imminent.
American monetary policy makers have nevertheless warned that rates could remain high for longer than the markets anticipate.
Several indicators are expected this week, which will help clarify the trajectory of the American economy in 2024, and which limit the appetite for risk.
On Wednesday, consumer confidence will be released at 3:00 p.m. GMT, ahead of final third-quarter GDP, the Philly Fed Activity Index and jobless claims on Thursday.
Above all, PCE inflation, the indicator of price dynamics favored by the Fed, will be published on Friday: a surprise, upwards or downwards, could cause markets which are already integrating 150 basis points of easing to react. for 2024.
The Durable Goods and University of Michigan Sentiment Index will also be released Friday.
In terms of values, Fedex lost 10.5% after lowering its annual turnover forecasts on Tuesday. UPS fell 2.9%, in the wake of Fedex.
Aon said Wednesday it would buy property-casualty insurance broker NFP in a $13.4 billion deal, losing 5.9%.
(Written by Corentin Chappron, edited by Blandine Hénault)
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