(Reuters) – The New York Stock Exchange opened slightly lower on Monday, with investors showing increased caution on the eve of the presidential election in the United States and a few days before the next meeting of the Federal Reserve.

In early trading, the Dow Jones index lost 45.20 points, or 0.11%, to 42,006.99 points and the broader Standard & Poor’s 500 opened almost stable, gaining 0.01% to 5,729.64. points.

The Nasdaq Composite lost 0.10%, or 18.20 points, to 18,221.71 points.

Caution is called for less than twenty-four hours before the American presidential election, while the latest opinion polls have shown that the game is far from over.

On Friday and Saturday, two indicators sowed confusion among investors who had been counting for several days on a gradual reduction in Fed rates and on a victory for Donald Trump: the monthly employment report and the opinion poll on Iowa State.

The private sector created far fewer jobs than expected in October, disrupted by hurricanes and strikes that shook the country, while the Iowa poll showed it was still too early to determine the outcome of the ballot.

Faced with these uncertainties, markets should expect an eventful week, with the Federal Reserve expected to announce its decision on a possible rate cut just two days after Americans go to the polls, while it is possible that the name of the next tenant of the White House will not be known until then.

On the value side, Tesla lost 2.9% after selling 68,280 electric vehicles manufactured in China in October, a drop of 5.3% year-on-year, according to data from the China Passenger Car Association published Monday.

Nvidia gains 1.1% after the announcement that the technology giant will replace Intel in the Dow Jones Industrial Average starting November 8.

B. Riley loses 19% after a company financed by the group, Franchise Group, begins bankruptcy proceedings.

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(Written by Pauline Foret, edited by Blandine Hénault)

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