PARIS (Reuters) – Wall Street opens cautiously higher on Tuesday, investors positioning themselves before the publication of a US inflation indicator on Wednesday and the results of major banks on Friday.
In early trading, the Dow Jones index gained 90.56 points, or 0.23% to 38,983.36 points and the broader Standard & Poor’s 500 rose 0.35% to 5,220.69 points. The Nasdaq Composite takes 0.47% or 78.41 points, to 16,331.039.
CPI inflation for March will be released on Wednesday, before the open.
A sign that markets are concerned about price dynamics after the latest employment report, which showed that tensions in labor markets remained strong, the indicator is expected to increase by 3.4% over one year , compared to 3.2% in February.
In the event of a downward surprise, “market expectations for a decline in June will be stronger, and the 10-year yield will struggle to exceed 4.5%,” write BofA analysts.
“Conversely, the probability of a decline in June will be lower and the 10-year closer to 4.75% in the event of an upside surprise.”
In addition, figures from JPMorgan Chase, Citigroup and Wells Fargo will mark the opening of the quarterly results season on Friday.
Investors will be paying attention to the impact of high rates on company results, while US stocks remain in high demand.
In terms of values, Google gained 1.2% after specifying the contours of its partnership with Arm.
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(Written by Corentin Chappron, edited by Kate Entringer)
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