PARIS (Reuters) – American stock markets advance at the opening on Monday, with markets betting on the end of the Federal Reserve’s rate hikes and as many monetary policy makers will speak this week. In early trading, the Dow Jones index gained 57.47 points, or 0.17% to 34,118.79 points and the broader Standard & Poor’s 500 rose 0.22% to 4,368.10 points. The Nasdaq Composite takes 0.27% or 35.80 points, to 13,514.082.
The Fed kept rates unchanged during its last monetary policy meeting on November 1, while a weaker-than-expected jobs report by economists revived hopes that the U.S. economy is finally slowing down, under the effect of rate increases.
The markets are counting on rates remaining at their current levels in December, before a first cut in June.
Investors nevertheless remain cautious.
Several monetary policymakers will speak this week, including central bank Chairman Jerome Powell, Board of Governors member Lisa Cook, New York Fed President John Williams and Dallas Fed President Lorie Logan .
Walt Disney, Instacart and Biogen will also publish their quarterly results this week.
In terms of values, Tesla advances by 1.63%, the group planning to build a car for 25,000 euros in its factory near Berlin, and also intending to increase wages by 4% for German workers, under pressure from the unions.
(Written by Corentin Chappron, edited by Kate Entringer)
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