PARIS (Reuters) – The New York Stock Exchange opened higher on Monday, the positive trend supported by hopes of a lull in monetary tightening by the United States Federal Reserve (Fed) but the approach of the publication of the accounts quarterly returns from several large technology groups limits the potential for gains.
In early trading, the Dow Jones index gained 385.03 points, or 1.24%, to 31,467.59 points and the broader Standard & Poor’s 500 rose 0.88% to 3,785.82 points.
The Nasdaq Composite nibbles 0.15%, or 16.13 points, to 10,875.85.
The Wall Street Journal reported on Friday that the Fed could debate in November a smaller rate hike in December.
Among the results expected in the week are Alphabet (-0.08%) and Microsoft (+1.03%) on Tuesday, while Apple (+0.25%) and Amazon (+0.62%) are expected on Thursday. .
Tesla, which released its financials last week, lost 5.42% as the US automaker lowered prices on the Model 3 and Y for the first time in China this year, raising fears some analysts say the start of a price war.
Chinese groups listed on Wall Street such as Alibaba, Baidu and Tencent Music lost 11.87% to 15.91%, on fears of an ideological hardening in China that could undermine economic growth after the reappointment of President Xi Jinping to head of the Chinese Communist Party.
Oil companies are falling, like Chevron, in the wake of the decline in oil prices affected by the slowdown in demand for crude oil in China in September, according to official statistics released on Monday.
(Written by Claude Chendjou, edited by Kate Entringer)
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