(Reuters) – The New York Stock Exchange opened up on Friday, straightening slightly after a difficult session the day before marked by the tightening of fears of trade war.
In the first exchanges, the Dow Jones index earns 263.50 points, or 0.65%, at 41,077.07 points and the Standard & Poor’s 500, wider, increased from 0.91% to 5,571.89 points, after having officially entered the correction zone the day before and seen flying 4,000 billion dollars.
The Nasdaq Composite takes 1.31%, or 226.83 points, at 17,529.85 points.
The instability aroused by the customs policies of US President Donald Trump has darkened investment prospects, threatening to switch the American economy in a phase of high inflation and slowdown in growth.
“Even if we start to get used to chaos, it always seems that the (American) politics is carried out in a disorderly manner,” said Art Hogan, chief strategist at B Riley Wealth, who describes the increase in the market on Friday as a “technical rebound”.
The nervousness of the markets is reflected in the rise in gold prices, which exceeded on Friday for the first time the 3,000 dollars mark on the ounce.
In this context, the meeting on Wednesday of the American Federal Reserve (Fed) will be scrutinized to find out if the Central Bank is willing to resume its monetary easing cycle despite fears of the inflationary consequences of the Trump administration policies.
The central bank should maintain its interest rates unchanged on Wednesday, but investors anticipate discounts later in the year and will be looking for signs indicating that the Fed could prepare to act.
Investors are also waiting for the publication of a consumer confidence report at 2:00 p.m. GMT.
At the values, Tesla took 3.4%. According to three sources due to the file, the car manufacturer will make a less expensive version of its Y model in Shanghai in order to regain market share in China.
Newmont won 2.4%, helped by the price of gold prices, which exceeded the 3,000 dollars bar on Friday.
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(Written by Mara Vîlcu and Diana Mandiá, edited by Kate Entringer)
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