(Reuters) – The New York Stock Exchange opened in dispersed order on Tuesday, while investors analyze the financial results of Home Depot to better understand the situation of American consumers and look forward to the symposium of the federal reserve in Jackson Hole.
In the first exchanges, the Dow Jones index earns 104.36 points, or 0.23%, at 45,016.18 points and the Standard & Poor’s 500, wider, fell from 0.03% to 6,447.21 points.
The Nasdaq Composite gives way 0.14%, or 30.27 points, to 21,599.51 points.
The key event of the week will be the symposium of the American Federal Reserve (Fed) to be held in Jackson Hole from August 21 to 23. The president of the institution Jerome Powell is expected to express themselves on Friday on the economic prospects and the political framework of the Central Bank.
“The Jackson Hole symposium appears to be a potential source of volatility, and as this event approaches, the markets remain cautious,” observes Kyle Rodda, analyst at Capital.com.
Investors also await the declarations of Michelle Bowman, vice-president of the Fed responsible for supervision, later in the day.
Michelle Bowman, who is expected to succeed President Jerome Powell at the head of the Central Bank after her mandate next year, has spoken out in favor of at least three interest drops this year to support the labor market, in accordance with the calls of American President Donald Trump in favor of a reduction in borrowing costs.
Investors have also taken aware today of the financial results of the Home Depot retailer, which maintained its annual forecasts and won 3.11%. The results of its competitor Lowe’s as well as those of Walmart and Target are expected later in the week.
Intel advances 6.45% after information that he will receive a capital injection of two billion dollars (1.72 billion euros) from SoftBank Group, a major vote of trust for the American semiconductor manufacturer engaged in a large recovery plan.
On the other hand, Viking Therapeutics fell by 38.66% after having declared Tuesday that his experimental loss tablet had helped obese people to lose up to 12.2% of their body weight in 13 weeks as part of a highly anticipated intermediate study.
(Written by Mara Vîlcu, edited by Augustin Turpin)
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