(Reuters) – The New York Stock Exchange opened up on Monday, the relaxation of oil prices supporting the feeling despite the continuation of the attacks between Israel and Iran, and while investors turn to the meeting of the Federal Reserve (Fed) scheduled for this week.
In the first exchanges, the Dow Jones index earns 187.96 points, or 0.45% to 42,385.75 points and the Standard & Poor’s 500, wider, increased from 0.59% to 6,012.01 points.
The Nasdaq Composite takes 0.45% or 187.96 points, at 42,385.75 points.
The indices of the New York Stock Exchange begin the session on a positive note after losing more than 1% on Friday, the conflict between Israel and Iran having notably increased oil prices.
The relaxation of crude prices offers a respite to investors worried about an inflation resurgence on Monday.
“The strikes have continued, but it does not seem that the oil markets and the navigation routes were disrupted. The markets calm down a little after the big surprise on Friday,” said David Miller, director of investments at Catalyst Funds.
Concerns about the inflationary effects of the rise in oil prices – as well as those related to customs duties – occur two days before the Federal Reserve (Fed) announces its monetary policy decision.
If a status quo is widely awaited on Wednesday, investors will monitor the comments of the president of the Fed, Jerome Powell, as well as the updated projections of the Central Bank for monetary policy and economic growth, in order to obtain indices on possible rate drops later in the year.
In values, US Steel action is advancing 4.9% after US President Donald Trump approved the partnership between the American steel and Nippon Steel, ending eighteen months of negotiations.
Victoria’s Secret takes 2%, while the Activist Barington Capital Group Fund will try to impose changes on the group’s board of directors, believing that the lingerie distributor has lost value since its split of its former parent company L Brands in 2021.
(Written by Diana Mandiá)
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