PARIS (Reuters) – American stock markets opened higher on Monday on Wall Street, encouraged by accommodating comments from monetary policy officials, despite a tense geopolitical context.
In early trading, the Dow Jones index gained 200.69 points, or 0.60% to 33,873.26 points and the broader Standard & Poor’s 500 rose 0.44% to 4,346.99 points.
The Nasdaq Composite takes 0.35% or 46.57 points, to 13,450.537.
Investors are once again focusing on the trajectory of rates in the United States, with Philadelphia Federal Reserve President Patrick Hasker due to speak on Monday, while Jerome Powell, Chairman of the Fed, will speak on Tuesday.
On Friday, Patrick Hasker said the Fed was probably done with rate hikes, while Chicago Fed President Austan Goolsbee said it was “undeniable” that the slowdown in inflation was a trend, not a statistical artifact.
Furthermore, 28 of the 32 S&P 500 companies that have already published their results surprised the upward consensus, which encourages the markets.
Concerns about the situation in the Middle East could nevertheless limit gains, as Israel prepares to invade the Gaza Strip and oil resumes its rise, to exceed $91 per barrel.
In values, Nvidia drops 0.86%, while the United States government plans to close a legal loophole to prevent American chipmakers from selling certain advanced semiconductors to China.
(Written by Corentin Chappron, edited by Kate Entringer)
Copyright © 2023 Thomson Reuters