PARIS (Reuters) – American stock markets opened hesitantly on Tuesday, with investors digesting the publication of CPI inflation on Tuesday and positioning themselves before the next meeting of the Federal Reserve on Wednesday.
In early trading, the Dow Jones index lost 10.65 points, or 0.03% to 36,394.28 points and the broader Standard & Poor’s 500 fell 0.27% to 4,610.05 points. The Nasdaq Composite lost 0.16% or 23.37 points, to 14,409.113.
CPI inflation published on Tuesday surprised on the rise, increasing by 0.1% over one month in November, while the consensus was expecting a stable indicator compared to October.
The inflation release follows Friday’s unemployment report, which showed that US labor markets remained resilient.
These two series of data complicate the task of the Federal Reserve, which must announce Wednesday at 19:00 GMT its next decision on interest rates: the central bank should maintain its rates at their current levels, according to market expectations, but could insist on the length of time rates will remain restrictive.
In terms of values, Alphabet fell 0.57% after losing a lawsuit against video game publisher Epic Games, creator of “Fornite”, which accused it of illegal monopoly with its Google online application store. Play.
Oracle fell 11.36%, the group having published a quarterly turnover forecast below expectations, due to an uncertain economy and competition in the cloud computing market.
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(Written by Corentin Chappron, edited by Kate Entringer)
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