PARIS (Reuters) – The New York Stock Exchange opened cautiously higher on Wednesday on the eve of the publication of monthly US inflation figures and two days before the launch of quarterly company results.
In early trading, the Dow Jones index gained 112.9 points, or 0.3%, to 37,638.06 points and the broader Standard & Poor’s 500 rose 0.24% to 4,768.2 points.
The Nasdaq Composite gained 0.32%, or 47.04 points, to 14,904.75.
Data on consumer prices (CPI) in the United States for the month of December will be published on Thursday and the Reuters consensus forecasts a reacceleration both monthly and annually. This publication comes as the American Federal Reserve (Fed) will hold its monetary policy meeting on January 30 and 31 where it could decide to observe a new pause on rates.
Market optimism regarding a drop in the cost of credit in the United States from March, which had caused a rally in stocks at the end of 2023, is however waning, with the CME Group’s FedWatch barometer now reflecting a probability of only 63% for such a change in rates compared to 79% last week.
Large American banks, such as JPMorgan Chase and Bank of America, are also due to kick off the fourth quarter results season on Friday.
In values, the new technology giant Amazon advances by 0.88% in a context of a slight decline in the yield on ten-year American bonds, which drops more than two basis points, to 3.9886%.
Stocks linked to cryptoassets like Riot Platforms, Coinbase and Marathon Digital lost 2.25% to 2.89% as the SEC, the American financial markets regulator, announced that an unidentified person had briefly accessed to her X account on Tuesday and posted a fake message claiming she had approved the launch of bitcoin-backed exchange-traded funds (ETFs).
Boeing rebounds by 1.69% after its general director, Dave Calhoun, admitted “errors” following the incident linked to the detachment of a door during an Alaska Airlines flight.
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(Written by Claude Chendjou, edited by Blandine Hénault)
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