PARIS (Reuters) – The New York Stock Exchange opened lower on Wednesday, with investors positioning themselves in an uncertain political context and marked by disappointing quarterly figures.
In early trading, the Dow Jones index lost 219.29 points, or 0.51% to 42,705.60 points and the broader Standard & Poor’s 500 fell 0.30% to 5,833.74 points. The Nasdaq Composite lost 0.38% or 70.59 points, to 18,497.749.
The results of the American election are expected on November 5 and investors are starting to position themselves for a victory for the Republican candidate, Donald Trump.
The former US president defends a program considered inflationary, which supports yields and puts pressure on stocks as his victory is considered more likely.
However, the gap with her Democratic rival Kamala Harris is small, leaving the outcome of the vote uncertain.
The markets are also digesting a burst of mixed results: Coca-Cola did not raise its annual revenue growth forecast, while Boeing posted a significant loss for the quarter.
Coca-Cola lost 2.9% at the opening and Boeing 2%.
Tesla’s results are expected after the close and will encourage caution, given the group’s weight in the indices.
In terms of values, Texas Instruments gained 2% after reporting results on Tuesday considered encouraging by investors.
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(Written by Corentin Chappron, edited by Kate Entringer)
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