How major USA stock indexes fared on Wednesday

Stocks waver between small gains and losses

The benchmark U.S. indices recovered from the selloff seen in the last two sessions to end marginally higher on Wednesday, with the Dow Jones Industrial Average and the S&P 500 indices posting the highest monthly gains since March 2016.

The dip came after the Federal Reserve released its latest statement on interest rate policy and the economy.

The higher wage growth and potentially higher inflation "might then lead the Federal Reserve to raise their interest rates more rapidly than the market is comfortable with", he told NPR's John Ydstie.

The Standard & Poor's 500 index rose 9 points, or 0.3 percent, to 2,831 as of 10:11 a.m. Rising yields make bonds more appealing to investors seeking income, but they can also lead to higher financing costs for companies, homebuyers and other borrowers. The losses outweighed solid gains by financial stocks, which got a boost as climbing bond yields set the stage for higher interest rates on mortgages and other loans.

The S&P 500 health-care sector fell for the second straight session, dropping 1.4%.

Boeing jumped 6 percent Wednesday.

Still, "the movement in stocks since the beginning of the year has been remarkable", she added.

Shares of Electronic Arts rose 7% after posting sharp growth in live services revenue in the holiday quarter, while Xerox gained 4.4% after shrinking its loss and sealing a deal in which Japan's Fujifilm Holdings will take a majority stake.

The S&P 500 index showed 12 new 52-week highs and 16 new lows, while the Nasdaq recorded 20 new highs and 32 new lows. The stock, which has been the biggest gainer in the Dow over the past year, added $19.75 to $357.46.

FILE PHOTO: A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, U.S., December 28, 2016. Dow members Merck, Pfizer and Johnson & Johnson all lost two percent or more, and biotechs including Gilead Sciences also were sharply lower. Brent crude, used to price global oils, gained 26 cents to $69.15 per barrel in London.

BOND YIELDS: Bond prices rose.

"A clear sign that confidence was restored by the jobs report was the fact U.S. 10-year Treasuries hit a four-year high immediately after it was released". Nasdaq 100 futures slipped 4.75 points.

CURRENCIES: The dollar rose to 108.94 yen from 108.78 yen on Tuesday.

Boeing was by far the biggest victor in the Dow, surging nearly five percent after it reported a 92 per cent rise in fourth-quarter profits to US$3.1 billion. The euro strengthened to $1.2478 from $1.2410.

Exxon lost 5.7 percent and Chevron fell 3.7 percent. Hong Kong's Hang Seng index fell 0.8 percent.



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