The NASDAQ and S&P 500 finished the session higher while the Dow Industrial closed an inch lower in the previous session pushed by the Federal Reserve policy meeting minutes which shows that the central bank reducing economy-boosting balance sheet could begin soon. Technology stocks rallied amidst a disappointing manufacturing report and a drop in crude futures.
The minutes of the meeting was released and has shown that several members showed that they’ rein favor of starting a reduction of the central bank’s $4.5 trillion balance sheet. The Fed’s meeting also showed that officials are divided on unemployment figures.
The Dow Jones Industrial Average (DJIA) closed the session with a drop of 1.10 points a less than 0.1 percent drop to trade at 21, 478.17 following a session that was switching from losses and gains. A slip in shares of Nike. Walt Disney Co. Chevron and Exxon Mobil Corp. negated gains in Beoing Co Intel Crop. and Microsoft Corp.
The S&P 500 index ended the session with an increase of 3.53 point a 0.2% climb up that traded index at 2,432.54, which was pushed by a 1% rally in technology shares and firm gains in Health care and Financials.
The Nasdaq Composite index was also up by 40.80 points an increase that is equal to 0.7% to end the session at 6,150.86.