PARIS (Reuters) – The New York Stock Exchange opened cautiously higher on Monday awaiting US inflation figures expected at the end of the week, while the indices are moving at record levels.

In early trading, the Dow Jones index gained 43.64 points, or 0.11%, to 39,175.17 points and the broader Standard & Poor’s 500 rose 0.11% to 5,094.45 points.

The Nasdaq Composite gained 0.13%, or 20.39 points, to 16,017.21.

Trading is marked by profit taking, which limits gains, while the S&P 500 and the Dow Jones set respective records on Friday at 5,111.06 points and 39,282.28 points in the wake of Nvidia’s forecasts.

The American semiconductor giant rose again on Monday, by 1.66%, after crossing the symbolic threshold of $2,000 billion in market capitalization on Friday for the first time.

In other corporate news, Berkshire Hathaway gains 2.28%, with Warren Buffett’s group reporting record operating profit of $37.4 billion in 2023, while Domino’s Pizza jumps 8.1483% thanks to like-for-like sales in the fourth quarter above expectations.

On the decline side, Moderna fell by 3.47% after HSBC’s advice to “lighten up” on the value, while Intuitive Machines plunged by 24.50% after the announcement by the spacecraft manufacturer of the reversal of its module Odysseus shortly after touching the lunar surface.

In addition to profit-taking, the downward trend is also fueled by the anticipation of the Thursday publication of the monthly PCE price index in the United States.

“The PCE price inflation index (should) show a little more inflation, in line with the numbers we’ve seen with the CPI and PPI, so markets are bracing for that,” said Peter Cardillo, chief economist at Spartan Capital Securities.

(Written by Claude Chendjou, edited by Sophie Louet)

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