S&P 500 Index and Nasdaq Index Set New Close Highs After Fed Meeting Minutes Reuters

Caroline Valletkevich

New York (Reuters)-U.S. stocks closed higher on Wednesday. After the minutes of the Fed’s last meeting indicated that officials may not be ready for tightening, both U.S. stocks and the Nasdaq index reached new closing highs.

According to the minutes of the Fed’s June policy meeting, Fed officials believe that substantial further progress in the economic recovery is “generally regarded as yet to be achieved”, but agree that if inflation or other risks become a reality, they should be prepared to take action.

Brad McMillan, chief investment officer of Waltham Commonwealth Financial Network, said: “I think this is a set of dovish and effective notes because they think that as a whole, they don’t have enough confidence in the situation to make any changes.”, Massachusetts.

After the minutes of the Fed meeting, the yields of US Treasury bonds fell slightly, while the stock markets mostly rose slightly.

The minutes of the meeting reflected the Fed’s divergence in dealing with new inflation risks but the unemployment rate is still relatively high.

After last month’s meeting and statement, investors began to expect the Fed to tighten faster than previously expected.

Wall Street has always been worried about inflation. In the past few trading days, investors have hovered between value stocks and growth stocks linked to the economy.

Growth stocks and value stocks both rose on Wednesday, while industrial stocks and materials stocks led gains in the S&P 500 index.

The S&P 500 index rose 104.42 points or 0.3% to 34,681.79, and the S&P 500 index rose 14.59 points or 0.34% to 4,358.13, and increased 1.42 points or 0.01% to 14,665.06.

(Chart: Nasdaq, spx outperformed the market, Dow lags behind, https://fingfx.thomsonreuters.com/gfx/mkt/oakvedjmbpr/MicrosoftTeams-image%20(14).png)

The Chinese market regulator said it has imposed fines on a number of Internet companies such as Didi Global, Tencent and Tencent. Alibaba (New York Stock Exchange:) Failed to report early M&A transactions for approval.

Didi’s U.S.-listed shares fell 4.6%, after falling nearly 20% on Tuesday.

The ratio of the number of falling shares to the number of rising shares on the New York Stock Exchange is 1.02:1; on the Nasdaq, the ratio of 1.92:1 favors the decliners.

The Standard & Poor’s 500 Index hit 71 52-week highs and no new lows; the Nasdaq Composite Index hit 84 new highs and 121 new lows.

The trading volume of US exchanges was 10.04 billion shares, while the average trading volume of the entire trading day in the past 20 trading days was 10.7 billion shares.