WALL STREET ENDED IN DISPERSED ORDER
par Stephen Culp
NEW YORK (Archyde.com) – The New York Stock Exchange ended in mixed order on Wednesday, with only the S&P-500 ending in the green, following the publication of the minutes of the January monetary policy meeting of the United States Federal Reserve (Fed ) indicating that it will decide meeting following meeting on raising interest rates.
The Dow Jones index fell 0.16%, or 54.57 points, to 34,934.27 points.
The broader S&P-500 gained 3.94 points, or 0.09%, to 4,475.01 points.
The Nasdaq Composite fell for its part by 15.66 points (0.11%) to 14,124.10 points.
According to the Fed’s “minutes”, released in the early followingnoon, US central bank officials agreed that it would be “soon appropriate” to raise its key rate, currently close to zero, and assess month-by-month schedule for rate increases.
“The fact that the Fed hasn’t been more conservative than expected seems to have helped equities, for now anyway,” said Lou Brien, strategist at DRW Trading in Chicago.
In the red for most of the session as investors swung between worries regarding geopolitical tensions and positive indicators on the US economy, the main Wall Street indices erased some of their losses following the “minutes” of the Fed, the S&P-500 returning to positive territory.
Several economic data show a sharp rebound in retail sales in January in the United States and higher than expected industrial production, while import prices have reached an unprecedented peak.
“The retail sales data today is extremely strong. It confirms that the consumer is still in very good health and bodes well for the economy,” said Ryan Detrick, chief strategist at LPL Financial. , in Charlotte.
Eight of the eleven major sectors of the S&P-500 rose, led by energy.
Side values, ViacomCBS plunged 17.8% following the publication of quarterly results below expectations.
Airbnb rose 3.6% on the heels of announcing a first-quarter profit forecast that beat expectations, thanks to the strong rebound in travel.
(French version Jean Terzian)