© Reuters.
Investing.com – Wall Street’s main indices were mixed during these moments of trading on Wednesday, as investors awaited more data for clues about the timing of interest rate cuts by the Federal Reserve.
At the same time, gold prices returned to gains during today’s trading after witnessing a sharp decline at the end of yesterday’s trading due to surprising US inflation data.
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Yields on US Treasuries rose, putting pressure on major interest rate-sensitive companies such as Nvidia Group (NASDAQ:), Meta (NASDAQ:), and Apple (NASDAQ:), which lost between 0.9% and 2.9%.
The 10-year yield rose 0.44% to 4.174%. While the two-year return rose by about 0.18% to 4.607%.
Chip stocks like Advanced Micro Devices (NASDAQ:) and Broadcom (NASDAQ:) also fell, leading to a 1.7% decline in the Philadelphia Semiconductor Index (NASDAQ:).
The Technology sector ( ) led the sectoral declines, falling 1.2%, while the Energy sector ( ) added about 1.8%, tracking higher .
Among other stocks, Lucid Motors (NASDAQ:) rose by 0.9%, Canon (OTC:) fell by about 2.5%, while Nio (NYSE:) fell by about 0.4%.
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The S&P 500 rose to a new record high on Tuesday as Oracle (NYSE:) shares rose amid slightly hot consumer price data failing to dampen hopes for interest rate cuts in the coming months.
While the central bank is widely expected to hold interest rates in March, traders now see a 65% chance of a first cut in interest rates in June, the US interest rate tracking tool available on Investing Saudi Arabia showed.
More US data is scheduled to be announced before the Fed’s meeting next week, with the Producer Price Index report to be released on Thursday, with the preliminary reading of the “Michigan” index on consumer confidence and their inflation expectations announced on Friday.
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Wall Street indices at 18:00 Saudi time
It now rises by 0.35% to the level of 39,140 points.
It is now falling by about 0.14% to the level of 5,167 points.
It is now declining by 0.56%, to 16,172 points.
Markets at 18:00 Saudi time
It is now rising by 0.36% to $2,174 an ounce.
It rose by about 0.48% to the level of $2168 per ounce.
On the other hand, it declines by about 0.12% to the level of 102,430 points.
Meanwhile, crude futures rose 1.8% to 83.4 per barrel.
While US West Texas Intermediate crude futures rose by about 1.9%, to $79 per barrel.
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