(RPT Title)
(Reuters) – The New York Stock Exchange opened prudent on Monday, while the customs duties imposed by the United States on some of its main business partners will take effect in the coming hours and investors are waiting for a series of key data later in the week.
In the first exchanges, the Dow Jones index earns 88.21 points, or 0.20%, at 43,929.12 points and the Standard & Poor’s 500, wider, increased from 0.26% to 5,970.23 points.
The Nasdaq Composite takes 0.37%, or 69.79 points, at 18,917.07 points.
The American stock market indices begin the month with gains after a difficult month of February due to the fears of persistent inflation, doubts about the economy and the expected effect of customs duties whose President Donald Trump threatens his main business partners.
Canadian and Mexican imports to the United States should be targeted from Tuesday by additional customs duties, even if the exact surcharge level has yet to be stopped by Donald Trump, which fueling the hope that they could be below 25% initially announced.
“Most of Wall Street continues to think that customs duties are only a rhetoric and not a reality,” said Sam Stovall, chief strategist at Cfra Research.
Uncertainty about the scope of Trump’s trade measures is part of a context of caution on the state of the US economy after a recent series of mediocre indicators published in recent weeks.
The monthly American employment report, expected on Friday, will therefore constitute a key indicator in this regard, while the numerous layoffs within the federal government may notably have an impact on unemployment figures.
These data will be all the more monitored as the Federal Reserve (FED) has maintained its interest rates that have been unchanged since December due to the prospect of still robust inflation and resilient economy.
In values, Intel takes 2.9% after Reuters reported this weekend that Nvidia and Broadcom were carrying out manufacturing tests with the American group, which testifies to a certain confidence in its advanced production techniques.
(Written by Diana Mandiá)
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