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By Staff Reporters
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U.S. equities did an about-face in late-day trading to finish mixed, with the Dow and S&P 500 adding to yesterday’s solid declines. The moves came following the release of the minutes from the Fed’s February 1 monetary policy meeting that showed Committee members remain steadfast in their rate hike campaign despite some cooling in inflationary pressures. In other economic news, mortgage applications fell for a second-straight week.
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Treasury yields were lower, and the U.S. dollar was higher, while crude oil prices tumbled, and gold traded to the downside. As Q4 earnings season continued to roll down the home stretch, Palo Alto Networks topped forecasts and offered upbeat guidance, and TJX Companies offered an outlook that missed forecasts.
In other equity news, Dow member Intel Corporation slashed its dividend and reaffirmed its Q1 outlook. Asia finished lower and Europe was mixed as investors awaited today’s Fed report.
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Filed under: Investing, Alerts Sign-Up | Tagged: S&P 500, Intel, DJIA, NASDAQ, DOW, European stocks, Asian stocks, Treasury yields, US equities |
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