Wall Street, in search of direction for the past week, found little inspiration in today's economic indicators, leading the New York indices to move once again within a narrow range of fluctuations.

At the end of the morning, the Dow Jones advanced by less than 0.2% to 39,193 points, while the Nasdaq Composite gained just 0.1% to 17,812.9 points, bringing it back in touch with last week's all-time highs.

US equity markets have tended to tread water of late, torn between the temptation to take profits on star stocks such as Nvidia and the hope of further rate cuts.

While recent statistics suggest that activity in the US is slowing down, arguing in favor of further monetary easing, others, such as the latest growth figures, are tempering this impression.

Gross domestic product (GDP) rose at an annualized rate of 1.4% in the first quarter, according to a third estimate from the Commerce Department, following a second-reading rate of 1.3%.

But orders for durable goods rose only slightly in May (+0.1%), marking a fourth consecutive month of slowing statistics.

As for jobless claims, they fell to 233,000 in the week to June 17, down by 6,000 on the previous week, confirming that the labor market is easing.

These lacklustre indicators did not, however, dampen the prevailing optimism.

Investors are awaiting signs of a slowdown in inflation, perhaps as early as tomorrow with the publication of the PCE, the Fed's preferred indicator of price trends.

The appetite for risk, which is greater in the USA than in Europe, is accompanied by a fall in bond yields, which are easing again after rising the previous day.

The yield on 10-year Treasuries is currently down three basis points at 4.2860%.

Buoyed by a weakening dollar, crude oil prices are resuming their upward trajectory on the NYMEX, with the August contract for U.S. light crude (West Texas Intermediate, WTI) climbing 1% to $81.7.

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