PARIS (Reuters) – The New York Stock Exchange opened slightly higher on Monday after Friday’s decline linked in particular to the publication of producer prices in the United States.
Investors await Tuesday’s consumer price data, followed by decisions from the US Federal Reserve following its two-day meeting.
In early trading, the Dow Jones index gained 117.89 points, or 0.35%, to 33,594.35 points and the broader Standard & Poor’s 500 rose 0.21% to 3,942.74 points.
The Nasdaq Composite took 0.09%, or 9.80 points, to 11,014.42.
US stock indices fell 0.7% to 0.9% on Friday after the publication of producer prices in the United States, emerged up 7.4% year on year in November, a figure above the Reuters consensus .
Consumer prices for their part will be published on Tuesday and Reuters forecasts a slowdown in the rise of this index to 7.3% over one year in November.
The same day will open the two-day meeting of the US Federal Reserve (Fed) which should lead to an increase of 50 basis points in the institution’s interest rates. The probability of a rise of this magnitude is currently estimated at 91% while the market sees rates peak at 4.96% in May 2023.
Despite the day’s rally on Wall Street, analysts expect equities to remain volatile through Wednesday.
“We believe there is still far too much uncertainty for investors to take a risk stance at this time,” writes Mark Haefele, chief investment officer at UBS Global Wealth Management.
In values, the biotechnology company Horizon Therapeutics jumped 14.82% after the announcement of its acquisition for 26.40 billion dollars by Amgen (-0.98%).
Microsoft takes 1.03% thanks to an entry, up to 4%, in the capital of LSE Group, the operator of the London Stock Exchange.
Apple, up 0.18%, is supported by the information of a reduction in delivery times for the Pro models of its iPhones.
Rivian Automotive sheds 3.60% after announcing plans on Monday to suspend its joint venture with Mercedes-Benz Vans, just three months after it struck a partnership with the German automaker to produce electric vans in Europe.
(Written by Claude Chendjou, edited by Sophie Louet)
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