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Principale » Wall Street end record high post the US Fed meet minutes

Wall Street end record high post the US Fed meet minutes

12 Octobre 2017

After ending the previous session modestly higher, stocks may move to the downside in early trading on Wednesday.

All three major indices ended at records, with the Dow Jones Industrial Average up 0.2 percent to 22,872.89, its second straight record. The major index futures are now pointing to a slightly lower open for the markets, with the Dow futures down by 9 points.

The Dow Jones industrial average added 42.21 points at 22,872.89, the S&P 500 index inched up 4.60 points at 2,555.24 and the Nasdaq composite index gained 16.30 points to 6,603.55.

Trading activity may be somewhat subdued, however, as traders may stick to the sidelines ahead of the release of the minutes of the latest Federal Reserve meeting this afternoon.

The sentiment was also aided by uncertainty among US Fed members about the pace of interest rate hikes in 2018 as reflected in the minutes.

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The Fed's projections pointed to a quarter basis point rate increase later this year, with the rate hike widely expected to come at the December meeting.

Most of the major sectors are showing only modest moves on the day, contributing to the lackluster performance by the broader markets.

In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Wednesday.

The weakness in the gold sector comes amid a decrease by the price of the precious metal, as gold for December delivery is sliding $3.60 to $1,290.20 an ounce. While the German DAX Index crept up by 0.2, the U.K.'s FTSE 100 Index dipped by 0.1 percent and the French CAC 40 Index closed just below the unchanged line.