Published: Thu, November 23, 2017
Hi-Tech | By Ellis Neal

USA stocks end mixed amid Fed minutes, economic data

USA stocks end mixed amid Fed minutes, economic data

Stocks in Singapore and other Southeast Asian countries were slightly higher.

The US Federal Reserve will release minutes of its most recent policy meeting at 19:00 GMT. A few Fed leaders think rates should stay where they are until there is more evidence inflation is rising, showing the concerns that the US inflation is falling short of expectations despite the jobless rate falling to the lowest level in almost 17 years.

US stocks closed mixed Wednesday as Wall Street pondered over the minutes from the Federal Reserve's latest meeting amid economic reports.

"Gold was one of the chief beneficiaries of the ensuing general dollar sell-off (on Wednesday) as the United States heads into its Thanksgiving break".

"The Fed rate hike in December is roughly priced in and unless there are very hawkish minutes, its more that people are looking for direction about future moves", said Georgette Boelle, a commodity strategist at ABN AMRO.

When the markets closed, Dow Jones Industrial Average was at 23526, S&P 500 at 2597 and Nasdaq Composite at 6867.

Spot gold was up 0.2 percent at $1,283.51 an ounce at 1034 GMT, while U.S. gold futures for December delivery were 0.1 percent higher at $1,283.40 an ounce. U.S. gold futures for December delivery gained 0.4 percent to $1,280.10.

The Bloomberg dollar spot index fell to the lowest level since October and Treasuries added to gains, pushing the 10-year yield to 2.32 per cent. Volumes were low in USA equity trading ahead of the Thanksgiving holiday, with the S&P 500 Index closing down a tad below the 2,600 level that it breached for the first time Tuesday.

OIL: The price of oil retreated after a jump on reports that key oil producers might extend the cuts in production they made at the start of this year.

CURRENCIES: The dollar rose to 111.35 yen from 111.24 yen. It gained 75 cents, or 1.2 percent, to $63.32 a barrel.

West Texas Intermediate crude rose 2.2 percent to $58.06 a barrel as US crude stockpiles declined.

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