U.S. stocks close lower after Fed minutes

24 February, 2018, 09:27 | Author: Gladys Mathis
  • Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York

The S&P technology index rose 0.9 per cent, while the tech-heavy Nasdaq turned positive for the week, with gains of 0.76 per cent.

At 9:35 a.m. ET, the Dow Jones Industrial Average was up 0.81 per cent at 25,163.8 and the S&P 500 gained 0.72 per cent at 2,723.48. On the Nasdaq, 1,558 issues rose and 1,158 fell. In the previous week, the North American Rig Count were 1293, and the USA rig count were 975.

The dollar sagged broadly on Friday after its recovery this week faded as USA treasury yields declined from their recent peaks.

In January's meeting, the Fed kept the benchmark interest rates unchanged, but sending the signals of further tightening monetary policy in view of stronger growth and inflation outlook.

In the corporate segment, Sanofi said that the waiting period under the HSR Act, applicable to Sanofi's proposed acquisition of Bioverativ Inc. has been expired and the condition to the Offer relating to antitrust approvals has been satisfied. However, the company announced higher dividend.

At the same time that the USA economy is being boosted by very easy financial conditions, it is also receiving a large fiscal stimulus from President TrumpDonald John TrumpAccuser says Trump should be afraid of the truth Woman behind pro-Trump Facebook page denies being influenced by Russians Shulkin says he has White House approval to root out "subversion" at VA MORE's unfunded tax cuts and his recently announced public spending plans.

MSCI's broadest index of Asia-Pacific shares outside Japan climbed 1%, adding to the previous week's 3.9% gain.

Asian stocks finished higher on Friday.

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The Dow moved higher as gains in shares of United Technologies and those of JPMorgan Chase, recently up 3 percent and 1.7 percent respectively, outweighed slides in shares of Walmart and those of General Electric, down 2.3 percent and 1.5 percent respectively.

Japanese shares eked out modest gains as bond markets regained stability.

Oil prices hovered near two-week highs, supported by lower U.S. crude inventories, but gains were capped by a surge in USA exports. The Standard & Poor's 500 index fell 0.5 percent to 2,701.33.

Hewlett Packard Enterprise Co (NYSE:HPE), which saw its shares soar by as much as 19% after hours following the release of its market-busing first quarter results, has kicked off with a more demure rise, up 0.98% premarket.

European shares are trading lower. FTSE 100 of England is down 16.21 points or 0.22 percent.

All of the TSX's 10 main groups were higher, while the index posted 6 new 52-week highs and 2 new lows. The CAC 40 of France is down 11.99 points or 0.23 percent. Economists had been expecting another 0.6 percent increase.

Euro Stoxx 50, that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.06 percent.

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