A sign for Wall Street hangs in front of the New York Stock Exchange
The New York Stock Exchange opened higher on Tuesday before the publication of economic indicators in the United States and while investors have their sights set on the projects of the American president-elect, Donald Trump, who will take office in less than two weeks.
In early trading, the Dow Jones index gained 168.64 points, or 0.39%, to 42,875.20 points. The broader Standard & Poor’s 500 rose 23.96 points, or 0.40%, to 5,999.34 points. The Nasdaq Composite took 71.11 points, or 0.36%, to 19,936.09 points.
The results of the Jolts survey on job openings in the United States will be known at 3:00 p.m. GMT, a prelude to a series of data on the labor market planned this week before the publication on Friday of the official monthly report on job creations. positions, unemployment rate and wages.
“A rise in the unemployment rate could pose a challenge for the Fed if inflation remains stable,” warns Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management Company.
“It would be forced to navigate between cutting too aggressively and the risk of a resurgence of high inflation, while keeping in mind that if it cuts too slowly it could create new pockets of weakness in the economy,” he explains.
In addition to the Jolts survey, the market is also awaiting the publication, still at 3:00 p.m. GMT, of the ISM services index for the month of December.
-Analysts believe that the campaign promises of US President-elect Donald Trump, who will enter the White House on January 20, could reinvigorate the economy, but also reaccelerate inflation and push the Fed to slow the pace of its monetary easing.
Donald Trump has pledged to cut taxes, relax regulations and impose new customs duties, which could trigger a trade war with the United States’ main partners.
In terms of values, Nvidia is in the green after presenting at CES 2025 in Las Vegas new artificial intelligence products to better train robots and cars, new gaming chips and an agreement with Toyota.
Apple and Tesla are falling, with MoffettNathanson lowering his recommendation from “neutral” to “sell” on the iPhone maker, while BofA Global Research moved from “buy” to “neutral” on the automaker.
On the upside, big banks like Citigroup, Wells Fargo and Bank of America are in demand.
(Writing by Claude Chendjou, edited by Kate Entringer)
