US stocks closed mixed on Wednesday following a volatile session.
The S&P 500 lost 1.14 points, or 0.02%, at 4,377.37 points. The Dow Jones Industrial Average fell 63.90 points, or 0.19%, at 33,862.84. The Nasdaq Composite rose 36.08 points, or 0.27%, at 13,591.75.
Federal Reserve chair Jerome Powell on Wednesday reiterated that stubborn inflation means interest rates will need to stay high.
Heads of other top central banks speaking at a conference in Portugal on Wednesday said they see further policy tightening as needed to tame stubbornly high inflation.
Bond market
The yield on the 10-year treasury fell to 3.70% from 3.77% late Tuesday. The 2-year yield sank to 4.70% from 4.76%.
Currencies
The US dollar rose to 144.32 Japanese yen from 144.05. The euro fell to $1.0922 from $1.0961.
Canada
Canada stocks rose on Wednesday, helped by gains in technology shares.
The Toronto Stock Exchange’s S&P/TSX composite index ended up 85.76 points, or 0.4%, at 19,818.85.
Europe
European shares rose on Wednesday, with the pan-European STOXX 600 index closing 0.7% higher.
Britain’s FTSE 100 rose 0.5% at 7,500.49. Germany’s DAX gained 0.6% at 15,949. France’s CAC 40 added 1% at 7,286.32.
Shares of Sage Group Plc gained 5.1% to a 23-year high after J.P. Morgan upgraded its rating on the stock to “overweight” from “neutral”.
French supermarket chain Carrefour gained 3% after Morgan Stanley gave “overweight” rating to its stock.
Asia
In Asia, Hong Kong’s Hang Seng index added 0.1% at 19,172.05. China’s Shanghai Composite: ended flat.
Japan’s Nikkei 225 rose 2% at 33,193.99.
Australia’s S&P/ASX 200 index finished 1.1% higher at 7,196.50. New Zealand’s benchmark S&P/NZX 50 index rose 0.7% at 11,649.2 points.
Energy prices
Brent crude for August delivery rose $1.77 to $74.03 a barrel on Wednesday. US crude oil benchmark for August delivery rose $1.86 to $69.56 a barrel.
Natural gas for July delivery fell 16 cents to $2.60 per 1,000 cubic feet.
Bullion
Gold for August delivery fell $1.60 to $1,922.20 an ounce. Silver for September delivery fell 7 cents to $23.08 an ounce.
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Updated: 29 Jun 2023, 02:24 AM IST