Wall Street opened lower on Monday, slipping further back from its recent record highs, as investors preferred to stay on the sidelines on the eve of US inflation figures.

By late morning, the Dow Jones index was down 0.2% at 38,894.7 points, while the Nasdaq Composite was down 0.5% at 15,953.2 points.894.7 points, while the Nasdaq Composite dropped 0.5% to 15,953.2 points.

While the market's upward trend remains intact in the eyes of professionals, who are forecasting new highs, the markets are continuing their recent pause in the absence of any incentive elements.

However, the end of the week promises to be much livelier with tomorrow's publication of the PCE consumer price index, the Fed's preferred measure of inflation.

These figures are all the more eagerly awaited given that producer prices had already led the market, two weeks ago, to sharply downgrade the probability of a Federal Reserve rate cut next month.

Proof of the cautious mood prevailing on the markets, the CBOE's volatility index, nicknamed the "fear index", rose by 0.4% to around 13.5 points.

The real engines of Wall Street's rise this year, the "Magnificent Seven" were all down, with Alphabet in particular down 2%, losing 5% since the start of the year due to concerns about the quality of its Gemini AI assistant.

eBay managed to escape the downtrend, climbing more than 6% in the wake of solid quarterly results, due to a recovery in demand and good cost control.

On the energy market, a barrel of US light crude (WTI) advanced 0.2% above $79, despite the announcement of a new weekly rise in US oil inventories last week.

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