(Reuters) – The New York Stock Exchange opened on Friday as investors analyze the implications of the appointment to the American Federal Reserve (Fed) of a Governor close to the ideas of President Donald Trump on rates.
In the first exchanges, the Dow Jones index earns 131.41 points, or 0.30% to 44,100.05 points and the Standard & Poor’s 500, wider, increased from 0.33% to 6,361.06 points.
The Nasdaq Composite takes 0.37%, or 79.05 points, at 21,321.75 points.
US President Donald Trump announced Thursday that he would appoint the chairman of the White House economic advisers committee, Stephen Miran, to occupy a vacant seat at the Fed during the last months of the corresponding mandate, after the surprise resignation of one of the seven governors, Adriana Kugler.
Stephen Miran shares the point of view of Donald Trump, who reproached the president of the Fed, Jerome Powell, for “delaying too much” to lower interest rates, while growth is maintained and inflation progresses.
“This guarantees a drop in rates during all the meetings that will be held by the end of January,” said Ray Attrill, head of the exchange strategy at National Australia Bank in Sydney.
In addition, the financial results season is coming to an end. At the values, Pinterest fell by 12.28% after missing analysts’ estimates for his second quarter profit on Thursday.
On the other hand, Expedia advances 9.69% after having noted its annual growth forecasts for raw reserve and turnover on Thursday in a context of resumption of demand in the United States.
(Written by Mara Vîlcu, edited by Kate Entringer)
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