10/07/2013 15:50:00

MARKET SNAPSHOT: U.S. Stocks Waver Ahead Of Fed Minutes

Related content

By Kate Gibson, MarketWatch

NEW YORK (MarketWatch) -- U.S. stocks wavered between small gains and losses Wednesday, as investors awaited minutes from the Federal Reserve's last meeting and possible clues as to monetary-policy moves ahead.

"Even though stocks seem prepared for a post-QE [quantitative easing] world, any data that would hint at an altered, or quickened, trajectory of a QE exit might still cause some stress," noted Jared Levy, senior equity strategist at Zacks.com, in emailed commentary.

After rising as much as 27 points and falling 32, the Dow Jones Industrial Average (DJI) was recently off 28.65 points, or 0.2%, at 15,271.69.

Hewlett-Packard Co. (HPQ) paced blue-chip gains that included 10 of the Dow's 30 components after Citigroup upgraded the PC maker.

The S&P 500 index (SPX) fell 3.06 points, or 0.2%, to 1,649.26, with financials the heaviest weight and health care the best performing of its 10 big sectors.

A day after closing at a more-than 12-year high, the Nasdaq Composite (RIXF) climbed 3.12 points, or 0.1%, to 3,507.35.

For every three stocks rising, four fell on the New York Stock Exchange, where 130 million shares traded by 10:40 a.m. Eastern.

Composite volume neared 633 million.

The dollar index (DXY) retrenched from a three-year high and the yen (USDJPY) climbed as the Bank of Japan began a two-day session, with the BOJ expected to leave its bond-purchasing program as is.

The yield on the 10-year Treasury note (10_YEAR) rose to 2.647%, with the government slated to auction $21 billion of the securities later in the session.

On the New York Mercantile Exchange, crude-oil futures for August delivery (CLQ3) rose 1.9% to $105.47 a barrel, after hitting a high of $105.62, its most costly level in more than a year. Government data on Wednesday had supplies falling far more than expected last week.

The government on Tuesday hiked its oil-price prediction for the year, estimating an average $94.65 a barrel, up from a June forecast of $93.25.

Gold futures for August delivery(GCQ3) rose 1.1% to $1,259.20 an ounce on the Comex. The metal price has rebounded in recent sessions after hitting a near three-year low at the end of June.

The Federal Open Market Committee will release minutes of its June 18-19 meeting at 2 p.m. Eastern time. At a press conference following the last meeting, Federal Reserve Chairman Ben Bernanke said the central bank could start reducing its $85 billion in monthly bond purchases later this year. See preview.

Bernanke will speak at a conference on Wednesday to discuss the Fed's first 100 years, with a question-and-answer session to follow. The speech will begin shortly after Wall Street's regular session closes.

Family Dollar Stores Inc.'s (FDO) shares gained 3.4% after the discount retailer reported quarterly earnings that beat estimates.

Fastenal Co. (FAST) shares fell 3.1% after the maker of fasteners, bolts and other construction supplies reported quarterly revenue that fell short of estimates.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

July 10, 2013 10:50 ET (14:50 GMT)

Copyright (c) 2013 Dow Jones & Company, Inc.

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
Ingen indlæg

Regulatory news

Novae Group plc: Purchase of Shares by the Trustee of the Employee Benefit Trust

08/02/2016 14:43:54
8 February 2016                                                                                     For immediate release Novae Group plc PURCHAS..

Form 8.3 - Home Retail Group

08/02/2016 13:46:27
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE ..

NB Glbl Fltg Rte Inc: Transaction in Own Shares

08/02/2016 07:00:11
8 February 2016 NB Global Floating Rate Income Fund Limited (the "Company") Transaction in Own Shares The Company announces that pursuant to ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Avance Gas Holding Ltd : Reports Unaudited Results for the Fourth Quarter and Full Year 2015
2
Avance Gas Holding Ltd : Q4 Dividend Information
3
SEB: Nordic Outlook: Stronger global growth, but downside risks dominate - Swedish boom threatened by imbalances
4
SIKA OPENS TWO NEW FACTORIES IN SOUTHEAST ASIA
5
Cargotec's Nomination and Compensation Committee's proposal for the composition and remuneration of the Board of Directors

Related stock quotes

Hewlett-Packard Co 9.19 -1.9% Stock price decreasing
Fastenal Company 43.36 -0.7% Stock price decreasing

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2016   Disclaimer and Terms of Use
Quote information is delivered by Interactive Data.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
10 February 2016 02:34:36
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20160209.2 - EUROWEB7 - 2016-02-10 03:34:36 - 2016-02-10 02:34:36 - 1000 - Website: OKAY