(Reuters) – The New York Stock Exchange opened lower on Tuesday, with declines in giants Tesla and Apple weighing on trading, as well as mixed quarterly results from Goldman Sachs and Morgan Stanley.

In early trading, the Dow Jones index lost 94.20 points, or 0.25%, to 37,498.78 points and the broader Standard & Poor’s 500 fell 0.34% to 4,767.65 points.

The Nasdaq Composite takes 0.43%, or 64.18 points, to 14,908.58.

After a start to the week marked by restrictive remarks from the leaders of the European and American central banks, investors are now waiting to position themselves for the intervention of the member of the board of governors of the Fed, Christopher Waller, expected at 4:00 p.m. GMT.

According to the CME’s FedWatch tool, markets now estimate the probability of a first rate cut by the US Federal Reserve in March at almost 25%, compared to more than 30% last week.

Pending comments from the Fed, the monthly survey of the regional branch of the Federal Reserve showed Tuesday that manufacturing activity in the New York region deteriorated sharply in January, the “Empire State” index rising to -43.70 after -14.5 in December.

In stocks, American banks Goldman Sachs and Morgan Stanley reported mixed results, the first reporting a 51% increase in its profit in the fourth quarter, while the second reported a drop in its profit over the same period. period, penalized by an exceptional charge of $535 million.

These results follow profit declines posted Friday by Wells Fargo, Bank of America, Citigroup and JPMorgan Chase.

“Morgan Stanley and Goldman Sachs tend to serve wealthier clients and have far fewer loan loss reserves,” said Paul Nolte, an analyst at Murphy & Sylvest.

“Overall, I think the banks’ results are pretty good and the banking sector is pretty well capitalized at this point,” he added.

In early trading, Goldman Sachs gained 0.9%, while Morgan Stanley lost 2.6%.

Microsoft is up 1.3% after announcing an agreement on a partnership with Vodafone to offer generative AI, digital, enterprise and cloud services.

Tesla fell 2.5% at 2:33 p.m. GMT after the group’s founder, Elon Musk, said on Monday that he had no plans to expand the automaker into a leader in artificial intelligence and robotics without hold at least 25% of the voting rights on the board of directors, almost double its current stake.

Apple lost 1.9% after announcing exceptional discounts on its iPhones in China on Monday, a sign of the increased competition encountered by the American group in this crucial market.

Boeing fell 4.2% after announcing on Monday that it was carrying out additional quality checks on the 737 MAX.

(Written by Augustin Turpin)

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