PARIS (Reuters) – The New York Stock Exchange opened lower on Monday ahead of the publication of monthly data on services activity in the United States while the uncertainties on the evolution of interest rates after the Friday’s US jobs report also urges investors to be cautious.
In early trading, the Dow Jones index lost 180.55 points, or 0.52%, to 34,249.33 points and the broader Standard & Poor’s 500 fell 0.59% to 4,047.61 points.
The Nasdaq Composite lost 0.5%, or 57.75 points, to 11,403.74.
The ISM services index in the United States will be published at 15:00 GMT and the Reuters consensus forecasts a slowdown to 53.1 in November after 54.4 the previous month.
The US jobs report, released on Friday, showed a bigger-than-expected rise in job creations and an acceleration in wage growth, reigniting fears that the US Federal Reserve (Fed) could abandon the planned lull. in the rhythm of the rise in its interest rates following its meeting on 14 December.
In values, Chinese groups listed on Wall Street such as Alibaba (+0.77%) and JD.Com (+1.68%), casino operators Wynn Resorts (+1.42%), Las Vegas Sands (+ 1.09%) and MGM Resorts (+3.3441%), as well as mining companies such as Vale (+0.32%), offer some support to the indices with the hope of an easing of sanitary restrictions in China.
Tesla fell 3.47% as sources reported that the automaker plans to cut production of its Model Y models at its Shanghai factory by more than 20% this month.
Apple rose 1.52%, its subcontractor Foxconn providing, according to a source, a complete resumption at the end of December of production at its factory in Zhengzhou, China, where some of the iPhones are manufactured.
(Written by Claude Chendjou, edited by Blandine Hénault)
Copyright © 2022 Thomson Reuters