PARIS (Reuters) – The New York Stock Exchange opened without direction on Tuesday as Nvidia recovers after falling sharply in recent sessions and before Friday’s publication of PCE inflation for June.
In early trading, the Dow Jones index lost 88.91 points, or 0.23% to 39,322.30 points and the broader Standard & Poor’s 500 rose 0.18% to 5,457.79 points. The Nasdaq Composite takes 0.43% or 75.57 points, to 17,572.382.
Nvidia rebounds by 2.4%, after having lost 13% during the last three sessions, a sign of a certain nervousness among investors regarding the continuation of the craze for artificial intelligence, one of the main themes of 2024 .
Markets are also digesting the latest comments from Federal Reserve Board member Michelle Bowman, who warned that rates will have to be kept at their current levels “for some time.”
Friday’s publication of PCE inflation for June, the indicator of price dynamics favored by the Fed, could justify the monetary policy manager’s caution if underlying pressures remain persistent.
Furthermore, the first debate between the American presidential candidates, which will take place on Thursday evening in the United States, could revive market concerns surrounding the election.
In terms of values, FedEx dropped 0.2%, while the parcel delivery group will publish its results after the close.
(Written by Corentin Chappron, edited by Blandine Hénault)
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