(Reuters) – The New York Stock Exchange opened higher on Tuesday, as investors were reassured by the less marked rise than expected in producer prices in December in the United States.
In early trading, the Dow Jones index gained 180.17 points, or 0.43%, to 42,477.29 points and the broader Standard & Poor’s 500 rose 0.48% to 5,864.43 points.
The Nasdaq Composite gained 0.69%, or 132.21 points, to 19,220.31 points.
The PPI producer price index in the United States indicated an increase of 3.3% year-on-year for the month of December, a lower figure than expected, with analysts having expected an increase of 3.4 %.
This result reassured investors that the Federal Reserve could prematurely end its cycle of reductions, allowing bond yields to ease and equity markets to regain their composure.
The publication on Wednesday of the “CPI” consumer price index in the United States will give an even clearer clue of what awaits the markets in terms of monetary policy in 2025.
On the value side, large caps are benefiting from the decline in bond yields after their recent surge. Tesla gained 4.28%, while Nvidia advanced 1.69%.
Applied Digital gains 20.7% after The Wall Street Journal reported that investment bank Macquarie will invest up to $5 billion in the digital infrastructure group’s artificial intelligence data centers.
United Rentals gains 5.6% after indicating its intention to acquire H&E Equipment Services (+106%) for $4.8 billion (4.67 billion euros).
Chinese companies listed in the United States are moving forward after Chinese authorities promised increased support for their market. Among the largest movements, we find JD.Com (+4.6%), Li Auto (+4.9%), XPeng (+9.4%) and PDD Holdings (+4%).
*For values to track, click
(Writing by Pauline Foret, edited by Kate Entringer)
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