PARIS (Reuters) – American stock markets opened lower on Wall Street on Wednesday, suspended from the publication of the minutes of the Federal Reserve’s latest monetary policy meeting and Nvidia’s quarterly results.
In early trading, the Dow Jones index lost 78.08 points, or 0.20% to 38,485.72 points and the broader Standard & Poor’s 500 fell 0.26% to 4,962.50 points. The Nasdaq Composite lost 0.61% or 95.70 points, to 15,535.082.
While a succession of indicators showed that the US economy – and inflation – remained resilient to rate hikes, the minutes of the Fed’s latest monetary policy meeting could provide more guidance on next decisions of the central bank.
But the markets will be especially attentive to Nvidia’s results, expected after the close. The group is expected to post a three-fold increase in its turnover in the fourth quarter, as demand for its chips dedicated to AI applications remains strong, but expectations are high and the stock’s valuation is expensive.
A bad surprise or disappointment could be enough to put pressure on the stock markets, which hit record highs in February.
In terms of values, Amazon (+1%) will join the Dow Jones Industrial Average index on February 26, replacing Walgreens Boots Alliance (-3.7%).
Chesapeake Energy rose 3.7% after publishing results above expectations.
(Written by Corentin Chappron, edited by Kate Entringer)
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