U.S. equity markets presented a mixed picture on Wednesday. At the close of trading in New York, the Dow Jones Industrial Average stood at 44,938 points, a marginal gain compared to the previous session.
The broader S&P 500 Index registered a decline of around 0.2 percent, closing near 6,396 points. The Nasdaq 100, focused on technology stocks, experienced a more pronounced decrease of approximately 0.6 percent, finishing the day around 23,250 points. Investor apprehension appears to be growing regarding the sustainability of recent gains in artificial intelligence-related stocks, with some expressing concerns about a potential market bubble.
Minutes released Wednesday from the U.S. Federal Reserve’s July meeting revealed increased internal debate regarding monetary policy. For the first time since 1993, two members of the Federal Open Market Committee dissented from the decision to hold interest rates steady. The records indicate that “nearly all” participants did not favor a rate reduction at this time, effectively dismissing speculation of previously held support for easing monetary policy that may have shifted during deliberations. The extent to which the minutes will inform the upcoming September meeting remains unclear, particularly given the significant revision of recent labor market data.
In currency markets, the Euro strengthened slightly on Wednesday, trading at 1.1648 U.S. dollars. Conversely, the U.S. dollar was valued at 0.8585 Euros.
Precious metals saw gains, with gold increasing by 1.0 percent to close at 3,348 U.S. dollars per troy ounce, equivalent to 92.42 Euros per gram.
Oil prices also rose, with Brent crude, the North Sea benchmark, reaching 67.05 U.S. dollars per barrel – a gain of 1.9 percent from the previous close.
