PARIS (Reuters) – The New York Stock Exchange opened on Tuesday with slight variations in a session once again marked by a wait-and-see attitude, with numerous macroeconomic data, including inflation and gross domestic product (GDP) of the United States, to be published from Wednesday.

In early trading, the Dow Jones index lost 35.15 points, or 0.09%, to 39,034.08 points, while the broader Standard & Poor’s 500 nibbled 0.07% to 5,073.57 points.

The Nasdaq Composite gained 0.24%, or 37.90 points, to 16,014.15.

Variations are limited while the S&P-500 and the Dow Jones have recently reached historic highs.

The absence of a catalyst, the American consumer confidence index being the only major statistic of the day, does not encourage risk-taking either.

Investors will learn on Thursday the PCE price index, the preferred measure of inflation by the US Federal Reserve (Fed), which meets next month.

The Reuters consensus forecasts an acceleration of the PCE to 0.3% in January compared to December, while the recent consumer price indices (CPI) and producer prices (PPI) in the United States have already surprised unfavorably, leading some traders to postpone the timetable for the Fed’s first rate reduction to June, or even July.

In addition to inflation, the Commerce Department is due to publish on Wednesday the second estimate of US GDP for the fourth quarter while the first showed that the US economy had grown more than expected, a sign of resistance. which removes the need for imminent monetary easing.

“Unless there is a significant deterioration in inflation or employment prospects over the coming weeks, there is a real risk that even June will be deemed premature for the Fed to begin cutting rates,” underlines in a note Raffi Boyadjian, analyst at XM.

On the bond market, the yield on ten-year US Treasury bonds is currently stable at 4.2993%, while the dollar is strengthening slightly (+0.02%) against the main currencies.

In terms of values, a few company publications are driving discussions, notably Macy’s, which gained 3.36% after its results and the announcement of the closure of 150 stores by 2026 as part of its new recovery plan. Lowe’s, up 0.36%, benefits from the announcement of better-than-expected fourth-quarter like-for-like sales.

Zoom Video Communications climbed 8.07% thanks to the group’s announcement of a share buyback plan and quarterly turnover above expectations.

The results of Norwegian Cruise Line (+12.99%) are also welcomed.

Groups linked to cryptoassets like Coinbase (+4.89%), Marathon Digital (+9.75%) and Riot Platforms (+3.16%) are driven by bitcoin which crossed the threshold of $57,000, at highest since the end of 2021.

(Written by Claude Chendjou, edited by Blandine Hénault)

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