Operators of the New York Stock Exchange (AFP / ANGELA WEISS)
The New York Stock Exchange opened higher on Tuesday, with investors holding their breath as polling stations opened in the morning in the United States for a presidential election with an uncertain outcome.
Around 3:10 p.m. GMT, the Dow Jones gained 0.60%, the Nasdaq index gained 0.96% and the broader S&P 500 index gained 0.74%.
America decides on Tuesday whether Kamala Harris or Donald Trump will enter the White House, at the end of a campaign of incredible tension, undecided until the last minute.
The latest polls show the two candidates neck and neck in the seven crucial states, those which, in this indirect vote, will give the Democrat or the Republican the sufficient number of electors to reach the threshold of 270 out of 538 , synonymous with victory.
“The election has generated a lot of uncertainty, whether it be the identity of the next president or the composition of Congress, and it makes sense that investors are a little nervous,” commented to the AFP Art Hogan of B. Riley Wealth Management.
“This encourages a wait-and-see attitude, and so we are not seeing much movement this morning” on the market, he added.
Most of the attention of the American market is directed towards the presidential election, but the meeting of the American central bank (Fed), Wednesday and Thursday, is also occupying the minds of investors, according to analysts.
The Fed lowered its key rates by half a percentage point in September, and two additional quarter-point cuts are anticipated by the end of 2024, an additional half-point less in total.
“Once we have the results of the election, (…) the market will be able to move on and start thinking about the trajectory of monetary policy,” underlined Mr. Hogan.
On the bond market, the yield on 10-year US government bonds stood at 4.32%, compared to 4.29% the day before at closing.
On the stock market, Wall Street was driven by large technological capitalizations, particularly in the semiconductor sector.
Nvidia (+2.14%), Broadcom (+2.62%), AMD (+1.54%), Micron (+0.98%), Intel (+2.57%) and Marvell Technology (+2 .97%) all came out in the green.
After several weeks full of rebounds, Boeing lost ground (-1.07%) on Tuesday morning.
The aircraft manufacturer's workers accepted a new draft social agreement on Monday evening, thus ending a seven-week strike.
IAM-District 751, branch of the machinists' union (IAM), indicated that it had approved by 59% the agreement providing for a salary increase very close to its demands, but not the restoration of the old retirement system.
Nasdaq
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