US stock markets showed mixed performance on Wednesday. By the close in New York, the Dow Jones was calculated at 53,464 points, marking a decline of 0.2 percent compared to the previous trading day. Slightly earlier, the broader S&P 500 was down a few points from around 7,676 points, while the technology-focused Nasdaq 100 calculated at approximately 29,225 points, showing a gain of 0.1 percent.
Investors are currently waiting for Nvidia’s quarterly figures, which are expected to be released after the market closes. These results are anticipated to provide insight into the future trajectory of the AI rally. Furthermore, the speech by Fed Chair Kevin Warsh at Jackson Hole on Friday is highly anticipated, as markets seek information from it regarding the central bank’s future interest rate decisions in its fight against inflation.
Inflation remains stubborn, according to the preferred Federal Reserve metric, the PCE price index. Data released on Wednesday indicated that this index stood at 3.7 percent year-on-year, with the core rate at 3.3 percent.
The European common currency weakened slightly on Wednesday evening against the US dollar. The euro traded at 1.1653 US dollars, meaning one dollar fetched 0.8581 euros.
In commodity markets, the gold price saw a noticeable drop, falling 1.3 percent by evening, trading at $4,596 a fine ounce, which equates to 126.81 euros per gram. Meanwhile, oil prices declined significantly. A barrel of North Sea Brent crude cost $87.48 around 10 p.m. Central European Time, reflecting a reduction of 110 cents, or 1.2 percent, from the previous day’s close.
