PARIS (Reuters) – The New York Stock Exchange opened hesitantly on Friday as investors digested the latest monetary policy comments, ahead of the Federal Reserve’s next decision.

In early trading, the Dow Jones index gained 42.03 points, or 0.11% to 37,817.41 points and the broader Standard & Poor’s 500 fell 0.11% to 5,005.45 points.

The Nasdaq Composite lost 0.38% or 59.34 points, to 15,542.154.

Several members of the Fed’s Board of Governors, including its chairman, Jerome Powell, explained this week that persistent price pressures justified keeping rates at a restrictive level.

Money markets are now only expecting 41 basis points of rate cuts, compared to around 150 bp expected at the start of 2024.

The search for safe assets this week, against a backdrop of geopolitical tensions, also put pressure on risky assets.

In terms of values, Netflix fell 7.6% after reporting results below expectations.

Paramount Global rose 7.7% after an authorized source told Reuters that Sony and Apollo Global Management were considering making a joint takeover offer for the company.

(Written by Corentin Chappron, edited by Blandine Hénault)

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