Around 4:15 p.m., the Dow Jones rose 0.45%, the Nasdaq advanced 0.83% and the broader S&P 500 index rose 0.53%.
The New York Stock Exchange opened higher on Tuesday after the publication of an inflation index below expectations, with investors also digesting press reports reporting a gradual increase in customs duties in the United States.
Around 3:15 p.m. GMT, the Dow Jones gained 0.45%, the Nasdaq index increased by 0.83% and the broader S&P 500 index by 0.53%.
The American market welcomed Tuesday the publication of the producer price index in the United States (PPI), which measures inflation on the producer side.
Over one month in December, wholesale prices increased by 0.2%, compared to 0.4% in November, according to this indicator from the Labor Department.
This slowdown was not expected by analysts, who instead expected an increase of 0.4%, according to the consensus published by MarketWatch.
The index “was more moderate than expected, which allows investors to breathe a sigh of relief after a difficult start to the year on the stock markets,” Art Hogan of B. Riley commented to AFP Wealth Management.
According to the analyst, this “will not change the posture of the American Central Bank (Fed) in the first quarter of this year”, but if inflation calms down, “this will certainly give (the institution) the opportunity to start lowering interest rates at some point.”
The American market is now awaiting the CPI index measuring inflation suffered by consumers, which will be published on Wednesday. The PCE index favored by the American central bank, and which it wants to reduce to 2%, will be published at the end of the month.
Faced with slowing inflation, the Fed has systematically lowered rates during its last three meetings, for a total of one percentage point.
-Investors also digested information from the Bloomberg agency, according to which President-elect Donald Trump’s economic team would consider very gradually increasing customs duties month after month, as negotiating leverage, which could limit their inflationary impact. .
During the American presidential campaign, Donald Trump indicated that he wanted to impose 10 to 20% customs duties on all products entering the United States, and even up to 60% on those coming from China.
On the bond market, the yield on ten-year US government bonds stood at 4.79% compared to 4.78% the day before at closing.
On the stock market, the big names in tech were mostly up slightly, which “contributed to supporting the entire stock market this morning,” Patrick O’Hare of Briefing.com observed in a note. Apple took 0.33%, Nvidia gained 0.20% and Amazon advanced 0.81%.
The electric vehicle manufacturer Tesla was also sought after (+2.75%).
Chinese companies listed in New York stood out, driven by the prospects of a gradual increase in customs duties, including Alibaba (+1.74%) and its competitors in the e-commerce sector PDD (+2.95%) and JD.com (+3.98%).
The Eli Lilly laboratory, the main competitor of the Danish giant Novo Nordisk in the anti-obesity treatment market, fell by 7.73%, after announcing that it “expected” a turnover of around $45 billion in 2024, in an increase of 32% compared to the previous year but below the forecasts made in the fall.
The American department store chain Macy’s was still in the red (-0.62%), after falling by more than 8% the day before. The group announced Monday that its fourth-quarter revenue would be at the bottom of its target range, between $7.8 and $8 billion, or even “slightly lower.”
