SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 22 Feb, 2018  

NYSE.Border.Thmb.jpg US stocks close lower after Fed minutes

NYSE.Resize.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
IANS | 22 Feb, 2018
US stocks closed lower as investors awaited the release of a meeting minute from the Federal Reserve.

The Dow Jones Industrial Average on Wednesday lost 166.97 points, or 0.67 per cent, to 24,797.78. The S&P 500 decreased 14.93 points, or 0.55 per cent, to 2,701.33, Xinhua news agency reported.

The Nasdaq Composite Index was down 16.08 points, or 0.22 per cent, to 7,218.23.

The US central bank released the minutes from its January meeting on Wednesday. According to the minutes, the Fed officials see increased economic growth and an uptick in inflation as justification to continue to raise interest rates gradually.

After the news came out, the US 10-year Treasury yield spiked to as high as 2.956 per cent. Major stock indices rose sharply with the Dow jumping more than 300 points before paring gains completely.

On the economic front, US manufacturers reported a strong upturn in business conditions during February, which continued the positive trend seen at the start of this year.

The seasonally adjusted IHS Markit Flash US Manufacturing Purchasing Managers' Index (PMI) rose to 55.9 in February from January's 53.8, the fastest improvement in overall business conditions since October 2014.

Meanwhile, US home sales fell unexpectedly for a second consecutive month in January and experienced their largest decline on an annual basis over three years, according to the National Association of Realtors on Wednesday. All major regions saw monthly and annual sales declines last month.

The association said the existing home sales dropped 3.2 per cent to a seasonally adjusted annual rate of 5.38 million units last month.




 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter