(reuters) – the new york stock exchange started declining again tuesday, hampered by concerns about the future of the proposed tax reform in the united states and the questions on the monetary policy of the federal reserve (fed).
ten minutes after the start of trading, the dow jones index is 68,46, 0.29%, 23.371,24 points. the standard & poor’s 500 largest, back of 0.38 points, the nasdaq composite 2.574,96 is 0.41% to 6.729,86 points.
as the european market, wall street is, inter alia, the lower values for raw materials and energy, after chinese economic indicators below expectations.
the s & p materials is 0.8%, the energy of 0.65%.
investors are still waiting to find out more about the attitude of the congress with regard to the proposed tax reform, the administration’s, one of the main hopes for many investors, the house of representatives to vote this week on the first version of the text, which is different from that of the senate.
“we’re coming to the end of the season of results, the economic indicators are affected by hurricanes: i don’t think we will have a clear perspective, as long as we don’t have a ‘yes’ or’ no ‘on tax reform,” said scott brown, chief economist at raymond james.
“it is to be expected that there is uneven, the market needs a break.”
the said in a note, citigroup building on the adoption of the tax reform in the first quarter of next year.
another pattern of concern: the flattening of the yield curve, which is the fear that the tightening of the edf does not inhibit excessive inflation and rein in growth.
home depot down after his.
james bullard, president of the regional branch of the st. louis fed, ruled tuesday that the central bank should keep its interest rates at their current level, as long as it has not found a sustained acceleration of inflation.
the chairman of the fed, janet yellen, for his part, said at a debate organised by the european central bank (ecb) that the policy of “management of expectations” (“forward guidance”, the institution was a success, but the prospects that it should always be considered as such had to change in the business environment.
a cautious welcome. the figures for output prices in the united states published one hour before the opening of markets in the united states had significantly higher expectations, with an increase of 0.4% in october, and 2.8% a year.
on the foreign exchange market, the dollar briefly wiped out some of its losses after this, but he later returned to the decline and fall of the face is 0.39% against a basket of currencies).
the decline of the dollar reflects, above all, the great strength of the euro, the european single currency 11751 dollar is the most since october 26, the day of the last meeting of the monetary policy of the ecb, and take advantage of the rebound in inflation expectations as a good growth figures published for the 19 the monetary union.
the values of wall street, the home depot is 0.8%, after being revised its forecast upwards on the basis of strong quarterly results. the title, of course, won 23% since the start of the year.
general electric, for its part, continues to decline and even give up 1.95%, after a decline of more than 7 per cent on monday in response to the announcement of a reduction of dividend and a major reorganization.
the increase in coca cola is 0.43%, following the increase in “performance” of the recommendation to wells fargo to two days a day, investors eagerly awaited.
the main indexes were in the red at the moment of opening in wall street, affected by, inter alia, the strength of the euro stoxx 600: (0.55%) is to record its sixth consecutive fence into negative territory, and the cac 40 in paris (0.46%) 7.
(marc angrand, sruthi shankar in bangalore, edited by blandine henault.
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Translated by forexguides.info Team