U.S. stocks end up mixed in Fed minutes and economic data

New York, October 13 (Xinhua)-US stocks finished mixing on Wednesday as investors analyzed the minutes of the Federal Reserve Board and numerous economic data.

The Dow Jones Industrial Average fell 0.53 points (0.0015%) to 34,377.81. The S & P 500 rose 13.15 points (0.30%) to 4,363.80. The Nasdaq Composite Index rose 105.71 points (0.73%) to 14,571.64.

Nine of the 11 major S & P 500 sectors ended in green, with utilities and materials rising 1.14% and 0.75%, respectively, outpacing the rest. Treasury and energy fell 0.64% and 0.1%, respectively.

JP Morgan reported earnings and earnings that exceeded Wall Street’s estimates, boosted by increased transactions and loans. Still, Wednesday’s share price fell by more than 2%.

US-listed Chinese companies closed the day with a bright note, trading high on all of the top 10 stocks by weight on the S & P US-listed China 50 Index.

Last month, the central bank broadly agreed that it could begin tapering asset purchases in mid-November or mid-December, according to the minutes of a recent Federal Reserve Board of Governance policy meeting.

The Federal Reserve Board has pledged to continue its asset purchase program at a current pace of at least US $ 120 billion per month until “substantial further progress” is seen in employment and inflation. The central bank will hold the next policy meeting on November 2-3.

On the economic front, the US Consumer Price Index (CPI) rose 0.4% in September, up 5.4% year-on-year, the US Department of Labor Statistics reported Wednesday. According to Dow Jones, economists expect a monthly increase of 0.3% and an annual rate of 5.3%.

Core CPI, excluding food and energy, rose 0.2%, up 4.0% year-on-year.

“September CPI inflation was high in the sector where supply chain bottlenecks continue, but low in the delta-sensitive sector,” said Will Compernolle, senior economist at FHN Financial.

U.S. stocks end up mixed in Fed minutes and economic data

Source link U.S. stocks end up mixed in Fed minutes and economic data

Back to top button