PARIS (Reuters) – The New York Stock Exchange rose at the opening on Wednesday, after several encouraging indicators and before the publication of the Jolt survey on job creation and the Federal Reserve’s Beige Book.
In early trading, the Dow Jones index gained 195.51 points, or 0.51% to 38,780.70 points and the broader Standard & Poor’s 500 rose 0.66% to 5,112.03 points. The Nasdaq Composite takes 0.96% or 152.66 points, to 16,092.249.
ADP’s private sector job creation figures were weaker than consensus expectations in February, an indication that tensions in the labor market are beginning to dissipate in the United States.
Investors, however, believe that the indicator lacks accuracy, and the Jolt survey on new job offers, expected at 15:00 GMT, will therefore also be closely followed.
The text of the intervention of the Chairman of the Fed, Jerome Powell, before the Financial Services Committee of the House of Representatives, encourages the markets, while the head of monetary policy recognized that rates would fall “at some point this year “.
Discussions with members of the committee, starting at 3:00 p.m. GMT, as well as the publication of the Fed’s Beige Book at 7:00 p.m. GMT, which focuses on current economic conditions, will also be closely followed.
In terms of values, Nordstrom plunged 10.3% after the group published an annual profit and turnover below Wall Street forecasts.
(Written by Corentin Chappron, edited by Kate Entringer)
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