by Chibuike Oguh
(Reuters) – The New York Stock Exchange ended higher on Monday, driven by technology stocks, on the eve of the two-day meeting of the American Federal Reserve (Fed).
The Dow Jones index gained 0.38%, or 146.43 points, to 38,386.09 points.
The broader Standard & Poor’s 500 gained 16.21 points, or 0.32% to 5,116.17 points.
The Nasdaq Composite advanced 55.18 points (0.35%) to 15,983,084.
The Fed begins a two-day meeting on Tuesday which should lead to a new status quo on its key rates while the prospect of monetary easing is now postponed until September at best.
“Besides the question of rates, because they’re not going to go down this week, it’s how firm they’re going to be because they’ve already been pretty firm,” Thomas Hayes, director of hedge fund Great Hill Capital, told Reuters. New York.
Tesla’s stock soared (+15.3%), the American automobile group having overcome regulatory obstacles which prevented it from deploying its FSD autonomous driving software in China, in the wake of Elon Musk’s visit in Beijing.
Apple ended up after news that the group could use artificial intelligence technology from OpenAI, the creator of ChatGPT, on the iPhone.
Outside of “tech”, Domino’s climbed 5.6% after reporting on Monday like-for-like sales above expectations in the first quarter.
( Zhifan Liu)
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