PARIS (Reuters) – The New York Stock Exchange opened higher on Monday, with American markets digesting the latest data published on Friday.
In early trading, the Dow Jones index gained 179.98 points, or 0.47% to 38,855.66 points and the broader Standard & Poor’s 500 rose 0.40% to 5,148.35 points. The Nasdaq Composite takes 0.32% or 52.21 points, to 16,208.537.
April employment figures released by the Labor Department on Friday showed tensions easing in labor markets, an encouraging indication as rising wages have been one of the main drivers of inflation beyond -Atlantic.
The Federal Reserve was also accommodating during its last monetary policy meeting, ruling out a rate increase.
“The April jobs report appears consistent with the Fed’s view – and ours – that the United States continues to benefit from positive supply effects that allow the economy to grow at a sustained pace without overheating,” note BofA strategists.
In terms of values, Berkshire Hathaway reported a record quarterly profit on Saturday, and increased by 0.9%.
Apple fell 0.6% after Berkshire Hathaway said on Saturday it had reduced its stake in the group by 13%, offloading around 115 million Apple shares.
(Written by Corentin Chappron, edited by Kate Entringer)
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