NEW YORK, June 1 (Reuters) – The New York Stock Exchange ended lower on Wednesday as the latest economic data from the United States did not believe investors could deflect the Federal Reserve from its aggressive bullish strategy. interest rates in an attempt to control inflation.
The Dow Jones index fell 0.54%, or 176.89 points, to 32,813.23 points.
The broader S&P-500 lost 30.98 points, or 0.75%, to 4,101.17 points.
The Nasdaq Composite fell for its part by 86.93 points (-0.72%) to 11,994.46 points.
Despite a drop in April, job vacancies remain at a high level, suggesting that rising wages will continue to contribute to soaring inflation.
In addition, the ISM manufacturing index released on Wednesday shows that activity in the sector accelerated more than expected in May, which alleviates fears of an imminent recession and could encourage the Fed to slow down its monetary tightening.
Investors were hoping to get some clues about the path of rates as they listened to two U.S. central bank officials, James Bullard and John Williams, speak on Wednesday, but the two strategists urged them to wait until inflation had slowed enough to consider a break from rising rates.
While it is almost a given that the Federal Reserve will raise its rates by half a point this month and in July, uncertainty remains for the following months as the market had once hoped for a break in the rise in September. the cost of credit.
“We can’t expect a pause until inflation has slowed significantly,” said Mona Mahajan, senior investment strategist at Edward Jones.
In values, Meta Platforms lost 2.58% after the announcement of the upcoming departure of Sheryl Sandberg, the operations director of Facebook and then Meta for 14 years.
Conversely, Salesforce gained nearly 10% thanks to an upward revision of its adjusted annual profit forecast, the group having also specified that it did not see any significant impact of the deterioration in the economic outlook on its activities.