PARIS (Reuters) – The New York Stock Exchange opened without much change on Tuesday in a wait-and-see context before the publication on Wednesday of monthly consumer price data in the United States, a statistic which could influence the trajectory of interest rates. the American Federal Reserve (Fed).

In early trading, the Dow Jones index lost 100.81 points, or 0.23%, to 44,301.12 points. The broader Standard & Poor’s 500 rose 5.60 points, or 0.09%, to 6,058.45 points.

The Nasdaq Composite advanced 63.56 points, or 0.32%, to 19,800.25 points.

The stock market indices struggled on Tuesday to find a clear direction after an exceptional month of November and a good start in December while caution returned, with a Vix volatility index around 15 points.

On the macroeconomic front, the Consumer Price Index (CPI) for the month of November, which will be published on Wednesday, is one of the last important data before the December 17-18 meeting of the Fed. The Reuters consensus anticipates a slight reacceleration of the overall CPI to 0.3% over one month and 2.7% over one year, while growth in the “core” CPI could stagnate.

CME’s Fedwatch barometer shows that traders are betting with a probability of more than 86% on a further Fed rate cut of 25 basis points next week. Bets rose after Friday’s release of the jobs report, which showed strong growth in job creation but also a slight rise in the unemployment rate.

Beyond December, analysts expect a pause in the Fed’s monetary policy easing when US President-elect Donald Trump takes office in January at the White House. The resilience of the American economy could find new support with the budgetary and customs promises of the billionaire whose policy is perceived as inflationary.

In the meantime, the dollar strengthened on Tuesday, by 0.21% against a basket of reference currencies, while the yield on ten-year US Treasury bonds rose by 2.9 basis points, to 4.2283%.

On the equity markets, the new technologies compartment, which was under pressure on Monday with the decline of Nvidia following the opening of an antitrust investigation in China, lost another 0.15%.

Oracle fell 8.63% after reporting quarterly revenue below expectations in a context of strong competition from Microsoft (+0.28%) and Amazon (+0.30). %).

Ebay (-4.86%) and Pinterest (-4.41%) are affected by recommendation drops, while American Airlines (+4.83%) benefits from Bernstein’s decision to upgrade to “outperform” on the airline.

Boeing gained 2.47% while, according to sources, the aircraft manufacturer restarted production of the 737 MAX last week, about a month after the end of a seven-week strike which mobilized 33,000 employees.

(Writing by Claude Chendjou, edited by Kate Entringer)

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