(Reuters) – The New York Stock Exchange opened up on Tuesday, investors focus on the results of companies after the criticisms of US President Donald Trump against the President of the American Federal Reserve (Fed), Jerome Powell, caused a strong fall during the session on Monday.
In the first exchanges, the Dow Jones index earns 394.48 points, or 1.03%, at 38,564.89 points and the Standard & Poor’s 500, wider, increased from 1.02% to 5,210.70 points.
The Nasdaq Composite takes 1.21%, or 191.66 points, at 16,062.56 points.
Wall Street has found a certain balance but the atmosphere remains fragile. “The market is very nervous and any feeling of negativity or concern is amplified or exaggerated,” said Fiona Cincotta, main market analyst at City Index.
“There is a lot of anxiety among investors, in general, about the trade war, but this anxiety is reinforced by the confrontation between Trump and Powell,” she added.
The comments of five Fed stakeholders, including vice-president Philip Jefferson, are expected during the day. Their remarks are likely to be followed closely to obtain indications on the prospects of central bank policy and points of view on increasing tensions with the White House.
Investors also had the opportunity to discover a multitude of business results during the day, and dozens of others are expected during the week, especially those of Tesla after the closure.
“There is still a lot of uncertainty about the application of customs duties (…) but if we can ignore this, the fundamentals of the markets still seem very good,” said Eric Sterner, director of investments at Apollon Wealth Management.
At the values, Verizon Communications fell by 1.65% after losing more subscribers to mobile telephony in the first quarter than expected.
Boeing advances 1.89% after declaring Tuesday that it was going to sell part of its Digital Aviation Solutions activity to the Thoma Investment Capital Company Bravo for an amount of $ 10.55 billion.
(Written by Mara Vîlcu, edited by Blandine Hénault)
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