Global markets today: US stocks end higher after Fed minutes
Federal Reserve's September meeting. The S&P 500 gained 18.56 points, or 0.43%, to end at 4,376.80 points. The Nasdaq Composite gained 96.83 points, or 0.71%, at 13,659.68.
The Dow Jones Industrial Average rose 57.27 points, or 0.17%, at 33,796.57. All Fed policymakers had agreed that the central bank should proceed carefully on rate decisions, and incoming data would help determine whether another hike was needed in coming months, said the minutes. “A vast majority of participants continued to judge the future path of the economy as highly uncertain," said the minutes.
Data showed that US producer prices rose more than expected in September. The yield on the 10-year treasury fell at 4.59% from 4.66% late Tuesday. The 2-year treasury yield ticked up to 5.00% from 4.97%.
The US dollar gained at 149.26 Japanese yen from 148.74. The euro rose at $1.0607 from $1.0599. Oil prices fell more than 2%.
The US crude oil benchmark for November delivery fell $2.48 at $83.49 a barrel. Brent crude for December delivery lost $1.83 at $85.82 a barrel. European stocks index edged higher on Wednesday on Novo Nordisk’s positive update on its diabetes drug Ozempic.
The pan-European STOXX 600 index rose 0.2% to hit a near three-week high. On Tuesday, the STOXX 600 rallied almost 2% in its biggest one-day gain this year. Britain’s FTSE 100 lost 0.1% at 7,620.03.
Germany’s DAX edged up 0.2% at 15,460.01. France’s CAC 40 fell 0.4% at 7,131.21. Gas prices in Europe rose to six-month high on supply constraints.
Asian stock markets gained on Wednesday on a report that China is considering a large burst of economic stimulus. Hong Kong’s Hang Seng Index rose 1.3% at 17,893.10. China’s Shanghai Composite added 0.1% at 3,078.96.
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