Washington (awp/afp) – The New York Stock Exchange opened in disarray on Wednesday, reassured by inflation figures in the United States which came out in line with economists’ expectations.
Around 3:20 p.m. GMT, the Dow Jones (-0.06%) was close to balance, the Nasdaq index gained 1.33% and the broader S&P 500 index, 0.69%.
“The markets were not disappointed by the inflation figures published today, so it is encouraging,” Sam Stovall of CFRA commented to AFP.
The CPI consumer price index showed a further acceleration in inflation in November in the United States, for the second month in a row, to 2.7% year-on-year compared to 2.6% in October.
Over one month alone, the increase in consumer prices is also higher in November than in October, at 0.3% compared to 0.2%, due in particular to changes in housing and food prices, announced the Department of Labor.
“The results are in line with expectations and since we didn’t have any big surprises, that’s why the market is up,” Stovall observed.
These figures “did not call into question the market’s opinion that the American Central Bank (Fed) will reduce its rates by a quarter of a percentage point” at the end of its next meeting on December 17 and 18, argued Patrick O’Hare of Briefing.com in a note.
Wall Street is now awaiting the PPI producer price index and the European Central Bank (ECB) monetary policy meeting on Thursday.
On the bond market, the yield on 10-year US government bonds stood at 4.21%, compared to 4.22% the day before at closing.
In the table of values, the American automobile giant General Motors was moving in the red (-0.60%) after announcing Tuesday in a press release that it was abandoning the robotaxis activity of its subsidiary Cruise to concentrate on the development of advanced driver assistance systems for cars sold to individuals.
Cruise was among the pioneers of autonomous driving technology and had a fleet of driverless taxis, or robotaxis, in several American city centers, until a serious accident in late 2023 in San Francisco.
The American supermarket chain Albertsons advanced (+0.86%) after announcing on Wednesday that it would put an end to the mega-merger project with its competitor Kroger (+0.92%), the day after two court decisions unfavorable to the operation worth nearly 25 billion dollars.
The semiconductor giant Broadcom shone (+5.87%) following press information according to which the group would work with Apple to develop a chip designed for artificial intelligence (AI).
Alphabet, Google’s parent company, progressed (+3.54%), still benefiting from its presentation on Monday of a new chip called “Willow”, a major advance likely to bring practical quantum computing closer to reality, according to the band.
This chip does in minutes what it would take major supercomputers 10 septillion years to do, according to Hartmut Neven, founder of Google Quantum AI.
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