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Benchmark US indices closed mixed on Wednesday, February 16, after Fed minutes gave no clear timeline for a rate hike to curb inflation and tension over Ukraine persisted.
The S&P 500 rose 0.09% to 4,475.01. The Dow Jones fell 0.16% to 34,934.27. The NASDAQ Composite fell 0.11% at 14,124.09, and the small-cap Russell 2000 was up 0.31% to 2,082.91.
On Wednesday, NATO secretary-general Jens Stoltenberg said while Russia may have withdrawn troops from Crimea, the military buildup around Ukraine remains, stoking fresh tension over the dispute. The oil price rose again after Stoltenberg’s remarks.
Meanwhile, in a new report, the Commerce Department said retail sales rose 3.8% in January on a seasonally adjusted over the previous month, the highest increase in 10 months. Experts regarded it as a sign of economic strength despite looming interest rate fears.
The Federal Reserve on Wednesday released the minutes of its recent meeting but did not give a specific timeline for rate revision, stressing that it will review the matter in future discussions.
Ten out of the 11 sectors of the S&P 500 index closed in the positive territory on Wednesday. The top gainers were the energy, materials, and industrial sectors, while technology, communication services, and consumer discretionary sectors were the bottom movers.
Shares of ViacomCBS Inc. (VIAC) fell more than 19% in intraday trading after the company changed the name to Paramount Global.
Gaming company Roblox Corporation (RBLX) stock fell over 26.8% after missing forecasts.
Shopify Inc. (SHOP) stock declined more than 16% in intraday trading after posting strong quarterly results, beating expectations, but saw weak revenue growth.
The Airbnb, Inc. (ABNB) stock jumped over 4.4% after reporting record revenue and a positive outlook for the first quarter. It reported revenue of US$5.99 billion in fiscal 2021.
In the energy sector, Exxon Mobile Corporation (XOM) rose 1.19%, Chevron Corporation (CVX) advanced 0.61%, and ConocoPhillips (COP) increased by 1.39%. EOG Resources Inc. (EOG) was up 1.86%, and Shell Plc (SHEL) jumped 2.13%.
In the material sector, Linde Plc (LIN) stock jumped 2.53%, Rio Tinto Group (RIO) increased by 1.80%, and Vale S.A. (VALE) surged 1.90%. Freeport-McMoRan Inc. (FCX) was up 1.51%, and Southern Copper Corporation (SCCO) rose 1.87%.
In the information technology sector, Nvidia Corporation (NVDA) plunged 0.33%, Broadcom Inc (AVGO) fell 0.94%, and Adobe Inc. (ADBE) plummeted 0.19%. Oracle Corporation (ORCL) and Saleseforce.com Inc. (CRM) decreased by 0.53% and 1.48%, respectively.
The global cryptocurrency market was up 1.07% to US$2.00 trillion, as per coinmarketcap.com at 3:15 pm ET. Bitcoin (BTC) price rose 0.45% to US$44,258.14 in the last 24 hours.
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Futures & Commodities
Gold futures surged 0.96% to US$1,873.95 per ounce. Silver futures increased by 1.25% to US$23.633 per ounce, while copper futures jumped 0.06% to US$4.5343.
Brent oil futures increased by 0.35% to US$92.07 per barrel and WTI crude futures were down by 1.52% to US$90.67.
Bond Market
The 30-year Treasury bond yields decreased 0.66% to 2.345, while the 10-year bond yields were down 0.59% to 2.033.
US Dollar Futures Index fell 0.25% at US$95.752.
