©Reuters.
NEW YORK (dpa-AFX) – Torn apart by the whole deal, US stock exchanges (ETR:) finally decided to turn profits on Wednesday. The zig-zag pattern characterized the price before and after the publication of the latest minutes of the Fed meeting.
The leading industrial index closed up 0.40% at 33,269.77 points. Market breadth increased by 0.75% to 3852.97 points. As for technology, it rose 0.48% to 10,914.80 points.
The Fed intends to continue to fight inflation with determination. Monetary Policy Committee members warned of an “unwarranted” easing of financial market conditions, the minutes said, which also signaled further monetary tightening.
Tesla (NASDAQ:) rallied in the stock market in the middle of the week after heavy losses the previous day. Shares of the electric vehicle maker gained more than five percent. Apple (NASDAQ:) also stabilized, up 1%. Microsoft (NASDAQ:), on the other hand, fell 4.4% after major Swiss bank UBS (SIX:) reversed its buy recommendation for the software giant’s shares.
Salesforce (NYSE:) gained 3.6% after announcing savings plans. By the way, about every tenth job at the cloud software specialist has to be cut. Boeing (NYSE:) continued its positive run, shares of the aircraft maker gaining 4.2% atop the Dow.
GE Healthcare’s separate listing was also in focus on Wednesday. The cards went up on day one of their spin-off from the parent company General Electric (NYSE:) fell 8% to $60.49 after starting at $54.13. Adjusted for the spin-off, General Electric shares closed up 6.4%.
The Euro was $1.0606 after the Wall Street close. The European Central Bank (ECB) had set the reference rate at 1.0599 (Tuesday: 1.0545) dollars, the dollar therefore costing 0.9435 (0.9483) euros.
In the US bond market, the 10-year paper futures contract () gained 0.65% to 113.38 points. Conversely, the yield on 10-year bonds fell to 3.69%.
