PARIS (Reuters) – The New York Stock Exchange opened lower on Tuesday, the day after a session in the green, driven by new technologies, with investors showing caution ahead of the publication of a gauge on job openings in the United States, a prelude to the official monthly report on the labor market expected on Friday.
In early trading, the Dow Jones index lost 40.62 points, or 0.10%, to 39,128.9 points, and the broader Standard & Poor’s 500 fell 0.15% to 5,466.37 points.
The Nasdaq Composite fell 0.20%, or 36.26 points, to 17,843.03.
Stock markets are falling as US long-term bond yields hover around a three-week high. US Federal Reserve Chairman Jerome Powell is expected to speak at a European Central Bank (ECB) forum in Portugal later today.
The wait-and-see attitude, which is leading to a movement of caution, is also fueled by the publication scheduled for 14:00 GMT of the Jolts report on job openings in the United States for the month of May. The market anticipates a drop to 7.910 million after a figure of 8.059 million a month earlier.
The statistic is the first in a series of jobs data that will drive the market throughout the week, including the ADP survey, weekly jobless claims and the official monthly report on nonfarm payrolls due Friday.
Investors are hoping the data will confirm the assumption of a soft landing for the U.S. economy as the market continues to bet on two rate cuts this year, according to CME Group’s Fedwatch barometer.
In terms of values, technology giants Microsoft, Apple and Amazon, victims of profit-taking, fell by 0.08% to 0.39% after having climbed the previous day by 2% to 3%, while semiconductor groups Nvidia, Micron Technology and ARM HOLDINGS fell by 0.20% to 1.93%.
Tesla gained 4.68% as the automaker reported a less-than-expected year-on-year decline in vehicle deliveries in the second quarter, helped by price cuts.
Also in the automotive sector, Polestar fell by 4.48%, after recording an operating loss in the first quarter.
Paramount Global rose 4.33%, with a source telling Reuters that billionaire Barry Diller’s digital media conglomerate IAC (+0.13%) was considering a bid to take control of the group.
(Written by Claude Chendjou, edited by Blandine Hénault)
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