The Dow Jones advanced 0.52%, the Nasdaq lost 0.23% and the broader S&P 500 index gained 0.11%.
The New York Stock Exchange closed in disarray on Tuesday, investors having digested the producer price index in the United States, before turning their attention to the publication of consumer prices on Wednesday.
The Dow Jones advanced 0.52%, the Nasdaq index dropped 0.23% and the broader S&P 500 index gained 0.11%.
“The market is in a waiting position,” reports Peter Cardillo of Spartan Capital Securities to AFP.
At the start of the session, investors rather welcomed 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.
“Now the market is preparing for the Wednesday publication of the Consumer Price Index (CPI) and, of course, the launch of the corporate results season with the big banks” like JPMorgan, Wells Fargo or Citigroup , explains Mr. Cardillo.
On Tuesday, investors also digested press information according to which Donald Trump’s economic team would consider gradually increasing customs duties month after month, as negotiating leverage, which could limit their inflationary impact.
In this context, “the Russell 2000 (which brings together 2,000 SMEs, editor’s note) could probably continue to outperform, because many stocks are national and would therefore not be affected by a significant increase in customs duties”, underlines Peter Cardillo.
At the close in New York, the small and medium-sized enterprise index climbed 1.13%.
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, Chinese companies listed in New York stood out, driven by the prospect of only a gradual increase in customs duties, including Alibaba (+1.42%) and its competitors in the e-commerce sector, PDD (+2.24%) and JD.com (+4.04%).
The Eli Lilly laboratory, the main competitor of the Danish giant Novo Nordisk in the anti-obesity treatment market, fell by 6.59%, 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 (-3.71%), 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.”
