PARIS (Reuters) – The New York Stock Exchange opened higher on Thursday before the monetary policy decision of the Federal Reserve (Fed), expected in the evening, thus continuing its rally started after the election of Donald Trump as president of the UNITED STATES.
In early trading, the Dow Jones index gained 0.13% to 43,786.90 points and the broader Standard & Poor’s 500 rose 0.36% to 5,950.33 points.
The Nasdaq Composite rose 0.66% to 19,116.95 points.
Market participants expect a 25 basis point cut in the Fed’s federal funds range but will closely monitor any statements regarding the future path of interest rates.
In terms of values, Qualcomm climbed 4.1%, the semiconductor manufacturer having announced that sales and profit for the current quarter would exceed Wall Street expectations, thanks in particular to Chinese smartphone manufacturers.
Moderna jumped 5.58%, after announcing a surprise profit in the third quarter thanks to higher than expected sales of its vaccine to treat COVID-19.
(Writing by Blandine Henault, edited by Kate Entringer)
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