New York (AFP)

The New York Stock Exchange retreated Monday after opening up, in the first session of December, investors showing concern about US trade policy.

The leading index, the Dow Jones Industrial Average, yielded 0.06%, at 28,033.30 points around 15:00 GMT.

The Nasdaq, with strong technological coloration, lost 0.51%, to 8,621.58 points, and the broad index S & P 500 released 0.24%, to 3,133.57 points

Despite a decline Friday at the close, the main indices of the New York Stock Exchange have all appreciated over the whole of last month: in November, the Dow rose 3.7%, the Nasdaq 4.5% and the S & P 500 3.4%.

Worried by the renewed tension between the United States and China last week, linked in particular to the signing by Donald Trump of a law supporting pro-democracy demonstrations in Hong Kong, market players continued to express their lack short-term optimism.

"It would appear that China is not ready to sign a phase 1+ agreement unless the United States agrees to include tariff lifting provisions and not simply postpone Additional customs taxes on December 15th, "says Patrick O'Hare of Briefing.

Despite threats of new US customs sanctions, manufacturing activity in China, measured by the Purchasing Managers' Index (PMI), rebounded in November for the first time in seven months.

Still on the trade front, Donald Trump announced that the United States would impose tariffs on imports of steel and aluminum from Brazil and Argentina, taking by surprise one of its main allies, Brazilian President Jair Bolsonaro.

The US president pointed out on Twitter that US financial markets were "up by 21% since the announcement of tariffs on March 1, 2018", the Nasdaq having actually earned a little over 21% between that date and his record last week. The Dow Jones and S & P 500 over the same period increased by 14.5% and 17.8% respectively.

Despite the sluggish start on Wall Street on Monday, several analysts expected the New York indexes to record gains by the end of the year.

"The market is often performing well in December, even if it was not the case last year, and if past performance is not always an indicator of future results, current market trends look constructive," says Art. Hogan of National.

In the bond market, the 10-year rate on US debt stood at 1.850% against 1.776% Friday at the close.

© 2019 AFP