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Wall Street closes in red and the Dow loses 0.50% after the Fed minutes

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New York, Aug 17 (North County Tribune).- Wall Street closed today in the red and the Dow Jones, its main indicator, fell 0.50% on a day marked by the publication of the minutes of the last meeting of the Federal Reserve (Fed), in which investors looked for clues about how interest rates will evolve.

At the end of the session on the New York Stock Exchange, the Dow Jones lost 171.69 points, to 33,980.32, while the selective S&P 500 fell 0.72% or 31.16 integers, to 4,274.04.

For its part, the Nasdaq market composite index fell a clearer 1.25% or 164.43 units and ended at 12,938.12.

The New York stock market, which has experienced a significant recovery in recent weeks, opened the day already in the red while awaiting the Fed’s minutes, the publication of which ultimately did not change the course of the market much.

For the most part, investors saw a mixed message in the minutes, insisting that rate hikes will continue until inflation is under control, but also acknowledging that “it would probably be appropriate at some point” to slow the pace. of those rises while “the effects” of those that have already been made are being evaluated.

On July 27, the Fed approved the fourth rate hike in a row and the second in a row of 0.75 points and, according to its president, Jerome Powell, another “unusually high” increase in September is not ruled out if inflation continues to rise.

At this meeting, however, some of the attendees acknowledged that the increases could be moderated in a “likely” scenario in which inflation drops and with a “slower, but still positive, economic growth.”

In addition to the news from the Fed, Wall Street today watched some business results and the latest retail data, which in July were unchanged in the US, with declines in car sales offset by more spending in transactions over the internet.

With the exception of energy (0.81%), all sectors ended the day in the red, with clear declines for communications companies (-1.85%), raw materials (-1.40%) and non-essential goods (-1.12%).

Among the thirty stocks of the Dow Jones, the gains of the technology companies IBM (0.90%) and Apple (0.88%) stood out, while the biggest losses were for Boeing (-2.84%), Walgreens (-2, 78%) and 3M (-1.88%).

In other markets, Texas oil closed with a rise of 1.8%, to 88.11 dollars a barrel, and at the end of the trading session, gold fell to 1,779.4 dollars an ounce, the yield of the US bond to 10 years rose to 2.891% and the dollar lost ground against the euro, with a change of 1.018.

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