Wall Street opens lower, caution dominates

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PARIS (Reuters) – Wall Street fell on Monday at the start of an eventful week, with investors remaining cautious ahead of numerous publications of macroeconomic indicators and two speeches from Federal Reserve Chairman Jerome Powell.

In early trading, the Dow Jones index lost 165.53 points, or 0.42%, to 38,921.85 points and the broader Standard & Poor’s 500 fell 6.45 points, or 0.13%, at 5,130.63 points. The Nasdaq Composite fell 0.11%, or 18.53 points, to 16,256.41.

A burst of indicators on the labor market will be published during the week.

On Wednesday, the ADP private employment figures will be published, as well as the JOLT survey on job openings.

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On Friday, the Labor Department will release its monthly employment report, a key indicator for gauging the resilience of the labor market.

Jerome Powell will speak to the House of Representatives on Wednesday and to the Senate on Thursday.

These interventions before the United States Congress will be closely followed as the resistance of the American economy to rate increases could encourage the central bank to postpone the start of its monetary easing.

In terms of values, Apple lost 1.84% after being sentenced on Monday by the European Commission to a fine of 1.8 billion euros for competition violations.

Enthusiasm around artificial intelligence continues, with Nvidia gaining 2.57%.

(Written by Corentin Chappron, edited by Bertrand Boucey)


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