PARIS (Reuters) – Wall Street opens mixed on Monday, with two important meetings looming this week.
In early trading, the Dow Jones index lost 22.85 points, or 0.06% to 39,980.74 points and the broader Standard & Poor’s 500 rose 0.06% to 5,306.29 points. The Nasdaq Composite takes 0.16% or 26.84 points, to 16,712,806.
The markets continue on their course after the publication last Wednesday of a CPI inflation indicator that is weaker than expected by the consensus, and which raises hopes that the Federal Reserve will lower its rates twice in 2024.
The publication of PCE inflation, the central bank’s favorite price indicator, on May 31 will constitute the next important test for the markets.
Until then, the publication on Wednesday of the minutes of the Fed’s last monetary policy meeting and the results of Nvidia could nevertheless cause a reaction in the American indices, supported this year by the technology sector and optimism on rates.
“The bar has been high for this quarter’s results, particularly in the technology sector,” write BofA analysts.
“But the markets are no longer entirely dependent on Nvidia: the group contributed 37% of the S&P 500’s earnings per share (EPS) growth over the last 12 months, and 11% of its performance, but should only be at responsible for only 9% of EPS growth over the next 12 months.
In terms of values, Apple fell by 0.3% while the group significantly lowered its prices in China to face competition from local players.
(Written by Corentin Chappron)
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