US equity markets saw gains on Wednesday, bolstered by positive investor sentiment despite ongoing trade tensions. The Dow Jones Industrial Average closed at 34,458 points, marking a 0.5% increase from the previous day’s close.
The broader S&P 500 reached approximately 4,160 points, reflecting a 0.6% gain, while the Nasdaq 100 index stood at around 13,365 points, up 0.7% at the close of trading in New York.
Minutes released from the US Federal Reserve’s most recent policy meeting revealed a cautious approach to interest rate adjustments. While a majority of participants acknowledged the potential for rate cuts in the future, concerns were expressed regarding the potential inflationary impact of escalating trade disputes and proposed tariff adjustments. The minutes indicated a reluctance among some policymakers to implement immediate rate reductions due to these uncertainties.
The euro experienced a slight depreciation against the US dollar, trading at $1.0882 per euro, with the dollar fetching €0.9190.
Gold prices benefited from the market dynamics, rising to $2,025 per fine ounce, a 0.4% increase. This equates to approximately €71.31 per gram.
Conversely, the price of crude oil experienced a minor decline. Brent North Sea crude was priced at $79.60 per barrel as of 10:00 PM Central European Time, down five cents or 0.1% compared to the previous day’s closing value.
