PARIS (Reuters) – The New York Stock Exchange opened on a positive note on Tuesday but the rebound, following a drop of more than 1% in the indices, remains cautious pending key indicators expected at the end of the week .

In early trading, the Dow Jones index gained 0.31% to 42,082.77 points and the broader Standard & Poor’s 500 rose 0.46% to 5,722.32 points.

The Nasdaq Composite gained 0.50%, to 18,014.33 points.

The three stock indices, which suffered on Monday from the rise in sovereign bond yields with a more dynamic job market than expected and from the surge in oil prices in view of the situation in the Middle East, are trying to regain part of the ground lost the day before.

“We observed a sharp drop on Monday, so it is not abnormal to see a slight rebound, especially since there is an absence of data this Tuesday,” underlines Fiona Cincotta, market analyst at City Index.

The volatility index on Wall Street, which on Monday reached a closing high since August 8, at 22.64 points, fell by 3.35%, to 21.88 points.

Investors are now focusing on the start of the corporate results season for the third quarter which will start on Friday with the major American banks. In terms of indicators, monthly data on American inflation are scheduled for Thursday, while the publication of the “minutes” of the September 17-18 meeting of the American Federal Reserve (Fed) will take place on Wednesday.

After the publication last Friday of the official monthly report on employment in the United States, traders now estimate the probability of a cut of only 25 basis points in Fed rates at the November meeting at almost 89%. , according to CME’s FedWatch barometer.

Adriana Kugler, member of the Board of Governors of the Federal Reserve, argued Tuesday in favor of further reductions in borrowing costs in the United States. Other Fed officials, such as John Williams and Alberto Musalem, on Monday also deemed it appropriate to cut rates over time. Speeches from their colleagues, Raphael Bostic, Susan Collins and Philip Jefferson, are expected later today.

In terms of values, Pepsico gained 0.74% despite the announcement of a surprise drop in its turnover in the third quarter and a reduction in its annual sales growth forecast.

Honeywell International advances 1.40%, the group having announced its intention to split and list its advanced materials business separately.

Chinese groups listed on Wall Street such as Alibaba, JD.Com and PDD Holdings fell from 6.10% to 7.83% after announcements of economic support from the Chinese authorities, considered insufficient by some investors. Luxury sector stocks such as Estee Lauder (-3.50%), Tapestry (-1.07%) and Canada Goose (-1.39%) are also suffering.

(Written by Claude Chendjou, edited by Blandine Hénault)

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