(CercleFinance.com) – The New York Stock Exchange is expected to open lower on Tuesday morning after its gains of the last two sessions, as investors are hesitant to continue the rebound before a series of highly anticipated statistics.
Half an hour before the opening, the futures contracts on the main American places gave up between 0.1% and 0.2%, announcing a rather cautious start to the session.
The major Wall Street indices gained between 1.3% and 1.8% over the previous two sessions. The S&P 500 even lined up two consecutive sessions of increases, which had not happened to it since the end of July.
This return to calm was favored by the easing of tensions on the bond market after the speech ‘half fig half grape’ held Friday in Jackson Hole by Jerome Powell, the chairman of the Fed.
While the yield on ten-year Treasuries rises above 4.22% today, it is still a long way from the peak of over 4.36% reached last week.
This ebb is also fueled by concerns that continue to surround the slowdown in global economic growth.
In this context, investors are impatiently awaiting the Conference Board’s consumer confidence index, which will measure the impact of the recent rise in gas prices on the morale of American households.
Market participants are paying particular attention to economic indicators, looking for elements likely to enable them to better understand the Fed’s intentions.
Wall Street’s main compass – the VIX – continues to move in the right direction for buyers: around 15, it dissuades managers from reducing their portfolios too much.
But the lines could move more mid-week with inflation data expected on Thursday and then Friday’s jobs data.
Copyright (c) 2023 CercleFinance.com. All rights reserved.