Posted Dec 19 2022 at 15:55
PARIS, Dec 19 (Reuters) – The New York Stock Exchange is trading slightly lower on Monday in early trading, continuing the trend of the past two weeks marked by concerns about the economic outlook.
A few minutes after opening, the Dow Jones index fell slightly to 32,910.59 points and the wider Standard & Poor’s 500 lost 0.28% to 3,841.55 points.
The Nasdaq Composite lost 0.6%, or 64,566 points, to 10,640,848.
Investors are increasingly concerned about the reduction that they believe is inevitable given the restrictive orientations of the main monetary authorities, such as the Federal Reserve (Fed) and the European Central Bank, in the face of inflation.
The S&P-500 and Nasdaq lost more than 2% each last week as Fed Chairman Jerome Powell signaled that the rally would continue into next year and the rate could climb to more than 5%.
“With economic data coming in below expectations, it’s not a stretch to think investors could shift their focus to the growing impact Fed actions are likely to have on the economy in 2023,” he said. SPI Asset Management.
In values, Tesla gains 2.52% after a poll, at the initiative of Elon Musk, showed that a majority of participants in the vote voted for the billionaire to leave the general management of the social network Twitter.
“If he decides to leave, it could inject Tesla stock with a temporary dose of optimism, with the hope that he finally gives the car group the attention it needs,” said Hargreaves analyst Susannah Streeter. Lansdown.