PARIS, Sept 6 (Reuters) – The New York Stock Exchange opened with little change on Tuesday after a three-day long weekend due to Labor Day amid continued caution on fears over inflation and the deterioration in the economic situation while the monthly figures for service activity are expected.
About fifteen minutes after the first exchanges, the Dow Jones index gained 8.31 points, or 0.03%, to 31,326.75 points and the wider Standard & Poor’s 500 rose 0.04% to 3,925, 99 dots.
The Nasdaq Composite lost 0.09%, or 10.57 points, to 11,620.288.
For many analysts, like Peter Cardillo, chief economist at Spartan Capital Securities, the slight rebound in the Dow and the S&P is essentially technical.
According to him, the policy of central banks, in the first place that of the American Federal Reserve, which meets this month and could raise its rates by 75 basis points, remains the dominant subject in the markets as fears of a recession deepen.
The ISM services index for August will be published at 14:00 GMT and the Reuters consensus forecasts a decline to 55.1 after 56.7 in July.
In values, the giants of new technologies such as Apple, Meta Platforms and Tesla are advancing by 0.2% to 0.6%.
On the downside, the struggling Bed, Bath & Beyond group fell 14.38%. The body of its financial director Gustavo Arnal was found Friday at the foot of a New York skyscraper and according to the city’s forensic services it is a suicide.
The Digital World Acquisition ‘spac’, which is due to merge with Donald Trump’s social media company, plunges 14.25% after a source told Reuters it failed to garner enough shareholder support to an extension of the discussions with a view to an agreement.
CVS health dropped 0.2% after the announcement of the acquisition of the group specializing in home care Signify Health for around eight billion dollars (8.05 billion euros).