PARIS (Reuters) – The New York Stock Exchange opened mixed on Friday, with investors digesting a burst of indicators published this week.
In early trading, the Dow Jones index was stable at 38,945.82 points and the broader Standard & Poor’s 500 rose 0.12% to 5,102.43 points. The Nasdaq Composite takes 0.18% or 29.68 points, to 16,123.112.
Two indicators are expected at 3:00 p.m. GMT, the manufacturing ISM and household morale from the University of Michigan for February, while numerous indicators have confirmed the resistance of the American economy in recent weeks.
“The US economy is simply not slowing down, and the Federal Reserve’s pivot has strongly stimulated growth since December,” notes Torsten Slok, chief economist at Apollo, who believes that the Fed will not lower its rates in 2024.
“As financial conditions have eased considerably, it is not surprising that non-farm payrolls and inflation figures were strong in January, and we should expect this strength to continue.”
Dell Technologies on Thursday beat Wall Street estimates for its fourth-quarter revenue, helped by the boom in artificial intelligence and the recovery of the personal computer market, and takes 32.7%.
New York Community Bancorp replaced its CEO, announced a fourth-quarter loss more than ten times what it previously reported and revealed flaws in its financial reporting in documents filed Thursday. The stock lost 27.3%.
(Written by Corentin Chappron, edited by Kate Entringer)
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