Paris (Reuters) – The New York Stock Exchange opened on Thursday after data on inflation rather online with expectations.
In the first exchanges, the Dow Jones index earns 185.87 points, or 0.43% to 43,572.71 points and the Standard & Poor’s 500, wider, increased from 0.26% to 6,156.69 points. The Nasdaq Composite takes 0.31% or 62.62 points, at 20,230.531.
Consumer prices in the United States have increased at the expected speed over one year in May, show the data published on Friday by the Commerce Department, which also reflect a faster increase than expected of underlying inflation and a drop in household consumption expenses.
Following this publication, the markets have changed their expectations to now bet on a total drop of 75 base points in the American federal reserve rates this year, probably from September.
If a drop in rates in July from the central bank remains unlikely according to investors, it is not impossible. Economists are now more than 20% to predict it, against less than 15% last week.
“The ‘Dovish’ speech this week increases the probability of a decline in July,” Citi analysts say in a note on Friday.
The euro continues to appreciate against the dollar after the publication of PCE inflation, the currency being at the highest since 2021 to 1.1745 dollars.
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(Written by Bertrand de Meyer, edited by Jean-Stéphane Brosse)
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