Economic news

Wall Street closes up, markets muted after Fed’s minutes

U.S. stock markets finished trading session up on Wednesday, having managed to recover their first loss in 4 gaining days, supported by stronger than expected earnings reports from local retailers Target and Lowe's. Federal Reserve's minutes showed that the July interest slash was only a "midcycle adjustment" and that the regulator hadn’t had plans in advance to diminish rates. 

The Dow Jones added 0.93 percent, to 26,202; the S&P 500 grew by 0.82 percent, to 2,924; and the Nasdaq rose by 0.90 percent, to 8.020 before the close bell.

U.S. strong income statement and the report of merger talks on European automakers triggered gains in Wall Street stocks, thus improving investors’ risk sentiment and pushing up safe-haven yields while the Japan’ yen and yellow metal sagged.

There was approximately flat reaction across the stock markets on Fed’s minutes. As it occured the policymakers’ opinion divided on interest rates cut issue.

Meantime, yields on long-term U.S. Treasury bonds grew just after after the Fed’ minutes release. The 10-year note yield touched a 1.58 percent level, whereas the 30-year bond yield jumped above 2 percent. 


To leave a comment you must or Join us


More news


Back to economic news list

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree