(CercleFinance.com) – US equity indices ended in scattered order on Wednesday, apprehending new inflation figures expected at the end of the week. The Dow Jones fell about 0.2% to 33,853 points, but the Nasdaq Composite gained nearly 0.3% to 13,592 points.
Investors were cautious ahead of the announcement of the Federal Reserve’s preferred measure of inflation, the so-called ‘PCE’ price index, as the US central bank continued to warn of further interest rate hikes. here at the end of the year.
“Central bankers adopted a hawkish tone at the ECB forum in Sintra this week, suggesting that rates have yet to peak and cuts are not expected for some time,” Capital Economics said more broadly.
The latter, however, noted differences in tone, the ECB and the Bank of England having seemed more concerned about wage-price spirals than the Fed, suggesting that rates in Europe will remain higher for longer than in the United States.
In terms of stocks, Nvidia fell 1.8% on reports from the Wall Street Journal that the US administration is considering limiting exports of artificial intelligence chips to China.
Regeneron lost 2.2%, penalized by comments from Canaccord Genuity which downgraded its recommendation on the title of the pharmaceutical company from ‘buy’ to ‘hold’, due to a lowered outlook for its flagship product Eylea.
Finally, General Mills fell 5.1% after the agri-food group’s disappointing results for its last quarter of 2022-23, which were not overshadowed by the announcement of an increase in its quarterly dividend.
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