PARIS (Reuters) – The New York Stock Exchange opened slightly higher on Monday but without much conviction, the context being one of wait-and-see on the eve of the two-day meeting of the American Federal Reserve (Fed).

In early trading, the Dow Jones index gained 45.8 points, or 0.12%, to 38,155.23 points and the broader Standard & Poor’s 500 rose 0.09% to 4,895.85 points.

The Nasdaq Composite takes 0.11%, or 17.40 points, to 15,472.76.

The Fed must make its monetary policy decisions on Wednesday following two days of FOMC debate. While there is little doubt about a new status quo on federal funds rates at their current level, investors will be on the lookout for signs that could indicate the timing of the first cut in the tightening cycle. monetary policy started in March 2022, as well as the bank’s economic projections.

Traders are mostly counting on a Fed rate cut in June, but some believe it could happen as early as March.

In addition to economic policy, the market is also awaiting publications this week from large companies such as Microsoft, Alphabet, Apple, Meta Platforms, Amazon, Exxon Mobil, Chevron, Merck, Pfizer and Boeing.

“There will be more volatility as the mega-cap publications approach, with the risk probably being on the downside (…) because a lot of good news has already been integrated into prices,” warns Art Hogan, chief market strategist at B Riley Wealth.

In terms of values, the manufacturer of autonomous vacuum cleaners iRobot plunged 17.59% after announcing, in a joint statement with Amazon (+0.03%), the abandonment of their merger project in the face of opposition from the Commission European.

Intel, whose action fell by almost 12% on Friday, following a warning on its forecasts, rebounded by 0.27%.

Warner Bros Discovery lost 2.35% as Wells Fargo lowered its recommendation to “online weighting”.

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(Writing by Claude Chendjou, edited by Kate Entringer)

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