Wall Street opens with losses and the Dow Jones falls 0.55%

NEW YORK, New York.— This Wednesday, the day on Wall Street opened with red numbers, when the Dow Jones Industrialsits main indicator, fell 0.55%with the market attentive to inflation report which will be published this week.

At the opening

Ten minutes after the market opened, the Dow Jones stood at 38,757 points, and the selective S&P 500 It fell 0.28%, to 5,064 integers.

The Composite Market Index Nasdaqwhere the main technology companies are listed, fell 0.40%, to 15,971 units.

What affects the markets today?

Investors are waiting for the personal consumption expenditure price index (PCE, in English), a key piece of information for the Federal Reserve (Fed) that will be announced on Thursday and will give clues about the health of the economy and the direction of monetary policy.

“A positive surprise in the PCE would reassure markets about the upcoming cuts in the federal funds rate, since a more flexible monetary policy could also reduce financial risk,” the head of strategy for firm investment Global X ETFs, Morgane Delledonne.

In early market trading, e-commerce company eBay rose more than 7% after the company posted quarterly results Tuesday that beat analysts’ expectations and announced a $2,000 share buyback program. millions of dollars.

For its part, the fashion company Urban Outfitters fell 10% after its results for the last quarter of 2023 fell short of what analysts expected.

By sectors

Losses predominated, led by the health sector (-0.6%) and the technology sector (-0.55%), while the greatest gains were for the energy sector (0.35%) and non-essential goods (0.24%).

Among the 30 Dow Jones stocks, the biggest advances were for Chevron (0.69%) and Caterpillar (0.43%), and the most affected were UnitedHealth (-4.02%) and Intel (-1.29%).

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