PARIS (Reuters) – The New York Stock Exchange rose slightly in early trading on Tuesday ahead of the publication in less than 24 hours of monthly US inflation figures.
Shortly after opening, the Dow Jones index gained 147.58 points, or 0.43%, to 34,091.98 points and the Standard & Poor’s 500 rose 0.29% to 4,422.19 points.
The Nasdaq Composite took 0.26%, or 35.224 points, to 13,720.705.
Investors having integrated that a rate hike of 25 basis points will be decided in three weeks, the publication of the consumer price index on Wednesday will further fuel the debate on the option that the Federal Reserve will favor for September.
“The focus is completely on this data, which is coming in late for the July meeting. Upside is a given and it would take really weak numbers to change this scenario,” said Craig Erlam, strategist at OANDA.
The actions of several Fed members in the week will also be scrutinized after Mary Daly and Michael Barr argued that the end of the hike cycle was approaching.
On the bond market, the ten-year US government bond confirms its decline, below the 4% mark.
As for values, JPMorgan (+0.79%), which will publish its second quarter results on Friday, is supported by the recommendation to “buy” Jefferies.
According to data from Refinitiv, earnings per share of so-called universal banks, whose activities are very diversified, such as JPMorgan and Wells Fargo, should jump by more than 40% over the April-June period.
(Laetitia Volga, editing by Kate Entringer)
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