Concerns about the outlook for interest rates weighed on the markets for much of the session. Minutes from the Federal Reserve's January meeting showed most policymakers were concerned about risks of cutting interest rates too soon, with broad uncertainty about how long borrowing costs should remain at their current level. After the release of the minutes, traders of U.S. short-term interest-rate futures stuck to bets the Fed will begin cutting interest rates no earlier than June.
At closing bell, the Dow Jones Industrial Average index rose 48.44 points, or 0.13%, to 38,612.24. The S&P500 index added 6.29 points, or 0.13%, to 4,981.80. The tech-heavy Nasdaq Composite index was down 49.91 points, or 0.32%, to 15,580.87.
Total 10 of 11 S&P500 sectoral indices advanced, with energy and utilities sectors being top performers, rising 1.86% and 1.36%, respectively, while information technology sector was bottom performer, falling 0.76%.
Among individual companies, Nvidia shares fell 2.85%, adding to the previous day's decline of more than 4% for the chip designer. After the closing bell, Nvidia shares surged 6% after it forecast fiscal first-quarter revenue above estimates on robust demand for its chips that dominate the market for artificial intelligence (AI).
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