PARIS (Reuters) – The New York Stock Exchange opened hesitantly on Thursday, as the Jackson Hole symposium begins, which should help clarify the American monetary trajectory in an increasingly uncertain economic context.
In early trading, the Dow Jones index lost 14.46 points, or 0.04%, to 40,876.03 points, and the broader Standard & Poor’s 500 rose 0.18% to 5,630.79 points.
The Nasdaq Composite gained 0.27% or 49.62 points to 17,968.604.
The Jackson Hole meeting, which will bring together many central bankers, begins Thursday and will be marked on Friday by the intervention of Jerome Powell, the chairman of the Fed.
Investors will be closely monitoring statements made at this year’s conference on labor markets, a hot topic in a context of weakening demand for employment.
In fact, the U.S. Labor Department overestimated payrolls by at least 800,000 jobs through December 2023, the largest revision in a decade, suggesting that labor markets are much weaker than expected.
The minutes of the Fed’s latest monetary policy meeting, which showed that the central bank was preparing to cut rates in September, nevertheless reassured investors.
In terms of values, Microsoft is stable, after having lowered its revenue forecasts for its Azure division.
(Written by Corentin Chappron, edited by Kate Entringer)
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