- The major Wall Street indices opened mixed on Wednesday.
- Financial stocks are gaining ground amid Treasury yields.
- Investors wait for the FOMC to release the Minutes for the March meeting.
The main US stock indices. They opened mixed on Wednesday amid mixed results from major sectors. At time of writing, the S&P 500 Index was up 0.05% on the day to 4,076, the Dow Jones Industrial Average gained 0.2% to 33,496 and the Nasdaq Composite is losing 0.3% to 13,534.
Among the top 11 sectors of the S&P 500, the financial index is the best performer after the opening bell, rising 0.62% due to a 1.2% increase in the yield on US Treasuries. 10-year benchmark. On the other hand, the Technology Index lost 0.3%.
Later in the day, the FOMC will release the minutes of its March meeting. Additionally, United States President Joe Biden will deliver a speech on the spending plan.
With a preview of the FOMC event, “the minutes will be tracked for clues as to the logic, timing and size of any change in Treasury intervention,” said FXStreet analyst Joseph Trevisani. “Any notice that the conditions for a reduction in bond purchases were discussed will be taken as an indication that the time is approaching with a commensurate market impact.”
S&P 500 chart (daily)
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