(message supplemented by individual values)
NEW YORK (awp international) – Torn by the whole deal, U.S. stocks finally agreed to take profits on Wednesday. The zig-zag pattern characterized the price before and after the publication of the latest minutes of the Fed meeting.
The main Dow Jones Industrial index closed up 0.40% at 33,269.77 points. The market-wide S&P 500 rose 0.75% to 3852.97 points. The high-tech Nasdaq 100 index rose 0.48% to 10,914.80 points.
The Fed intends to continue to fight inflation with determination. Monetary Policy Committee members warned of an “unwarranted” easing in financial market conditions, the minutes said, which also signaled further monetary tightening.
Tesla rallied in the stock market mid-week after heavy losses the previous day. Shares of the electric vehicle maker gained more than five percent. Apple also stabilized with a 1% increase. Microsoft, on the other hand, fell 4.4% after major Swiss bank UBS removed its buy recommendation for the software giant’s stock.
Salesforce rose 3.6% after announcing savings plans. By the way, about every tenth job at the cloud software specialist has to be cut. Boeing continued its good run, shares of the aircraft maker gaining 4.2% on the peak of the Dow.
GE Healthcare’s separate listing was also in focus on Wednesday. The shares rose 8% to $60.49 on the first day of their spin-off from parent company General Electric (GE), after starting at $54.13. Adjusted for the spin-off, General Electric shares closed up 6.4%.
The Euro was $1.0606 after the Wall Street close. The European Central Bank (ECB) had set the reference rate at 1.0599 (Tuesday: 1.0545) dollars, the dollar therefore costing 0.9435 (0.9483) euros.
In the US bond market, the 10-year paper futures contract (T-Note Future) gained 0.65% to 113.38 points. In return, the 10-year bond yield fell to 3.69 per cent/ajx/he
— By Achim Jüngling, dpa-AFX —
