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Markets end mixed as Fed Minutes show Hawkish Stand

by SuperiorInvest

  • Major U.S. stock indexes were mixed on February 22, 2023, with minutes from the Fed’s latest meeting adding to concerns about inflation and interest rates.
  • The Nasdaq managed to post a small gain in Wednesday’s session, while the Dow and S&P 500 closed slightly lower.
  • Amazon ( AMZN ) shares rose as the company completed its purchase of primary care provider One Medical.

US stocks were mixed after minutes from the Federal Reserve’s latest meeting showed policymakers were committed to reducing inflation and some wanted to raise interest rates even more than expected. The Dow and S&P 500 fell, while the Nasdaq posted a small gain.

Oil futures collapsed on fears that higher rates would reduce demand, sending shares of fossil fuel-related firms lower. Intel (INTC) shares fell when the chip company announced it was reducing its dividend as part of its cost-cutting efforts. Walmart stock (WMT) fell after the company sold its online outdoor retail unit Moosejaw to Dick’s Sporting Goods (DKS).

Keysight Technologies (KEYS) was the worst-performing stock in the S&P 500 based on the electronic test equipment maker’s current sales outlook. A DOJ subpoena and a full year less than expected knowledge pulled down shares of Charles River Laboratories (CRL). News Corp (NWSA) shares fell on word of the sale of the media company’s real estate business to CoStar Group (CSGP) are over. Shares of CoStar Group also fell.

Amazon is making a deal

Amazon (AMZN) shares rose as it completed its $3.9 billion purchase of primary care provider One Medical and the company Federal Trade Commission (FTC) he said he will not block the transaction. Shares of Caesars Entertainment (CZR) jumped as the casino operator’s revenue beat estimates and it narrowed its net loss significantly. Las Vegas Sands shares (ME AGAINST) and were also won by other rivals. Warner Bros. Discovery (WBD) shares moved higher ahead of the entertainment company’s earnings report.

The the yield on the 10-year government bond he refused. The price of gold lost 0.5%. The US dollar strengthened against the euro, pound and yen. Sale in cryptocurrencies continue with bitcoin (BTC/USD), ether (ETH/USD) and other major digital coins trading below.


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