Highlights
Stocks perked up a bit Wednesday after two days of solid declines as markets braced for earnings from Nvidia and generally expected good news. Gains were limited by caution and by rising market rates after the Federal Reserve's latest policy meeting minutes underlined policy-maker disinclination to cut rates in December.
The Dow Jones industrial average firmed 0.1 percent, the S&P 500 firmed 0.4 percent and the Nasdaq gained 0.6 percent. US Treasury yields and the dollar rose while oil prices fell.
News that the Labor Department will not issue a full employment report added to the view that the Fed will keep rates steady through year end as it may not have enough information to change policy. Minutes of the last Fed meeting said most members did not want to cut rates in December.
Definition
Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.
Description
Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.