(Reuters) – The New York Stock Exchange opened on Friday after a monthly report on American employment deemed disappointing, investors are now waiting for Jerome Powell’s speech later during the day.

In the first exchanges, the Dow Jones index loses 179.59 points, or 0.42%, at 42,399.49 points and the Standard & Poor’s 500, wider, fell from 0.29% to 5,721.69 points.

The Nasdaq Composite gives way 0.22%, or 39.4 points, to 18,029.84.

According to the monthly American employment report published this Friday by the Department of Labor, the private sector created 151,000 jobs in February. If this number is higher than that of the previous month, during which the US economy created 125,000 jobs, it is nevertheless lower than the expectations of analysts, which were tabed on 160,000.

While Jerome Powell, the president of the Federal Reserve, must be expressed later in the day, investors are trying to assess the impact that this indicator on the monetary policy of the Central Bank will have.

“The market anticipates three rate drops again in 2025, but I would not bet on the possibility that the Fed is accommodating immediately,” said Brian Jacobsen, chief economist at Annex Wealth Management.

“With an unemployment rate of 4.1% and inflation still above target levels, they have no reason to change strategy at the moment,” he added.

On the values ​​side, Broadcom wins 5% after its prospects for the second quarter reassured investors at the demand of semiconductors for artificial intelligence. In its wake, Nvidia and Arm Holdings take 1.1% and palantant 1.2%.

Costco loses 4% after reporting on a profit by action below the second quarter on Thursday.

Hewlett Packard cedes 15.4% after declaring Thursday to anticipate a lower turnover to the expectations in the second quarter, citing the potential impact of American customs duties on its segment.

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(Written by Pauline Foret, edited by Kate Entringer)

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