(Reuters) – The New York Stock Exchange ended in mixed order on Monday after a session marked by a certain wait-and-see attitude before Tuesday’s publication of CPI inflation in the United States, which should provide new clues on the trajectory of rates of the Federal Reserve.
The Dow Jones index gained 0.33%, or 125.69 points, to 38,797.38 points.
The broader S&P-500, on the other hand, lost 4.77 points, or 0.09%, to 5,021.84 points.
The Nasdaq Composite also fell by 48.12 points (-0.30%) to 15,942.55 points, after having briefly exceeded at the start of the session its closing record dating from November 2021, less than one percentage point from its all-time intra-day high of 16,212.229 points.
CPI inflation figures for January will be released on Tuesday, and will provide more insight into the evolution of the disinflation process, which is essential for the Federal Reserve to be able to lower its key rates.
“The CPI report tomorrow will make it possible to make an important new point on inflation and this will determine the pace at which the rate cut could take place,” underlined Michael Rosen, investment director at Angeles Investments. “No one wants to make big bets one way or the other while they wait.”
After the publication of indicators showing the solidity of the American economy, the chances of a rate reduction of at least 25 basis points at least in May are now only estimated at 52.2%, against more than 95% at the start of the year, according to the tool.
Numerous macroeconomic data will also be published this week in the United States and will help the markets to clarify their outlook for 2024. The Philly Fed sentiment indicator for February, retail sales or industrial production for January, will be published on Thursday.
In stocks, Diamondback Energy jumped more than 9% after announcing the purchase of Endeavor Energy Resources, the largest unlisted oil and gas producer in the Permian Basin, in a cash and stock transaction of approximately $26 billion, including debt. ()
Nvidia overtook Amazon.com in market capitalization during the session, as euphoria around artificial intelligence propelled the chipmaker to the fourth place among the most valuable US companies. Nvidia ended the day very slightly up, while Amazon fell more than 1%.
(Written by Johann M Cherian, Ankika Biswas and Carolina Mandl, Tangi Salaün)
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