S&P 500 Ekes Out Narrow Gain as Investors Shake off Fed’s Inflation Warning
The S&P 500 posted a modest gain on Wednesday as traders assessed the potential for future Federal Reserve rate cuts amid persistent inflationary pressures.
The broad market index added 0.16%, closing at 5,918.25, while the Nasdaq Composite slipped 0.06% to 19,478.88. The Dow Jones Industrial Average outperformed, rising 106.84 points, or 0.25%, to end at 42,635.20. The three major averages are on pace for a second straight weekly loss.
Minutes released from the Fed’s December meeting reflected that nearly all committee participants found that upside risks to the inflation outlook had increased, adding to investors’ concerns that there may be fewer rate cuts than expected this year.
“In discussing the outlook for monetary policy, participants indicated that the Committee was at or near the point at which it would be appropriate to slow the pace of policy easing,” the minutes read.
Source : CNBC
