DJIA up 0.17% (Il Sole 24 Ore Radiocor) - New York, 26 Aug - US shares opened little changed, close to record highs, to kick off a week featuring a series of big earnings reports including AI bellwether Nvidia.

Wall Street ended on a positive note last week after Federal Reserve chief Jerome Powell signalled, in no uncertain terms, 'the time is right' for an interest rate cut.

While the Fed chief did not say when or by how much interest rates would come down, a cut in September is being priced in as a dead certainty. The question investors are now asking is whether the cut will be 25 basis points or a heftier 50.

As inflation cools, the market is growing increasingly confident the central bank will cut deeper, and more often, to support flagging economic growth and a slowing jobs market.

In data today durable goods orders in July surged above expectations but new orders for key US-manufactured capital goods unexpectedly fell.

Other key data this week include a second reading of GDP data and the weekly jobless claim report.

On the earnings front, the reporting season marches on with a quarterly update from AI chip maker Nvidia the highlight of the week while Salesforce, Dell Technologies and CrowdStrike will also be on the block.

Just after the opening bell the Dow Jones was up 70.23 points, or 0.17%, at 41,245.31, the S&P 500 was up 7.71 points, or 0.14%, at 5,642.32 while the Nasdaq was down 11.99 points, or 0.07%, at 17,865.80.

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(RADIOCOR) 26-08-24 15:48:30 (0353) 5 NNNN