PARIS (Reuters) – The New York Stock Exchange opened on a stable note on Tuesday following the records of the S&P 500 and the Nasdaq and pending the publication of the Jolts survey, which should give a first overview of the situation on the market of work in the United States.

In early trading, the Dow Jones index gained 69.31 points, or 0.15%, to 44,851.31 points. The broader Standard & Poor’s 500 fell 0.27 points to 6,046.88 points, the day after an unprecedented peak at 6,053.58 points.

The Nasdaq Composite lost 44.94 points, or 0.23%, to 19,359.01 points, also after a record Monday at 19,436.92 points.

A wait-and-see attitude dominates the market ahead of the Jolts survey on job offers which is due to be published at 3:00 p.m. GMT. This survey precedes the official monthly report on non-agricultural job creations, the unemployment rate and the average hourly wage, scheduled for Friday.

This last statistic is particularly followed by investors to anticipate the rate trajectory of the American Federal Reserve (Fed), whose next decision is scheduled for December 18.

“The bumpy inflation trajectory since late summer has caught the attention of the Fed and led markets to aggressively reassess the monetary policy outlook for 2025,” Societe Generale analysts write in a note.

“It is not certain that we have reached an equilibrium with a terminal rate around 3.75%,” they add.

On the bond market, the yield on ten-year Treasury bills is almost stable, at 4.18%, while two Fed officials, Austan Goolsbee and Adriana Kugler, are due to speak during the day.

Their colleagues, Christopher Waller said on Monday that with inflation still forecast to fall to 2%, he was inclined “at the moment” to support a further rate cut this month, while John Williams was more cautious, believing that we could not yet say what the next decision of the central bank would be.

Traders currently expect a more than 72% probability that the Fed will cut rates by 25 basis points at its next meeting, according to CME Group’s FedWatch barometer.

In today’s values, Tesla fell by 1.52% while its sales of vehicles produced in China fell by 4.3% year-on-year, to 78,856 in November, according to an industry federation.

US Steel fell 7.87%, as US President-elect Donald Trump reiterated his opposition to the proposed takeover of the group by the Japanese Nippon Steel for an amount of 15 billion dollars.

Zscaler dropped 5.18%, the increase in the group’s annual turnover forecast not being enough to impress investors according to analysts.

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(Writing by Claude Chendjou, edited by Kate Entringer)

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