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Wall Street, without conviction, opens in small rise


Wall Street, without conviction, opens in small rise

New York (AFP)

The New York Stock Exchange rose slightly in the opening on Wednesday, supported by hopes of a break in the Sino-US trade war and new monetary support measures.

The Wall Street index, the Dow Jones Industrial Average, was appreciating at 13:45 GMT by 0.13% to 26,945.73 points.

The Nasdaq, with strong technological color, gained 0.18% to 8,098.72 points, and the expanded S & P 500 index rose 0.05% to 2,980.97 points.

New York indexes ended without clear direction on Tuesday, with brokers reluctant to engage before central bank meetings and new information on the trade front: the Dow Jones had climbed 0.28%, finishing up for the fifth in a row, while the Nasdaq dropped 0.04%.

The first sessions of this week were mostly devoted to a certain rotation in the portfolio of investors, according Patrick O'Hare Briefing.

On the one hand, they are relieved, notes the specialist, of securities on the bond market, driving up rates, and high-growth stocks. At the same time, they turned to secure businesses.

Encouraging sign: China announced on Wednesday the cancellation of customs surcharges on 16 categories of products imported from the United States, before further bilateral negotiations scheduled for early October in Washington.

"However key products like soy or pork are not on the list," says O'Hare.

Investors are mainly waiting for meetings of European Central Banks on Thursday, and US on September 18, which could announce new actions to boost growth.

Donald Trump on Wednesday sent fierce criticism to the Federal Reserve (Fed), denouncing the "naivety" of his boss, Jerome Powell, and called on the institution to reduce interest rates to zero, or below.

In the bond market, the 10-year US debt rate stabilized at 1.733% versus 1.732% the day before closing.

© 2019 AFP

Source: france24

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