The minutes of the US interest rate meeting on July 26-27 put a damper on developments in the New York stock exchanges on Wednesday, but the exchanges were also lower on the front lest there were more negative signals around. Interest rates will rise in the future. The interest rate committee members indicated their willingness to raise the interest rate as much as necessary to beat inflation, but they also expressed their fear of going overboard.
However, there were no indications on whether the next rate hike would be 0.5 or 0.75 percentage points, but according to FedWatch, the probability of a 0.5 percentage point increase, to 2.75 – 3.0 percent, is now 61.5 percent. The probability of a 0.75 percent increase is 38.5 percent.
Few would have cared if the latest figures showed that US retail trade in July was unchanged, while according to Trading Economics a 0.1 percent increase was expected.
The Dow Jones fell 0.5 percent to 33980.72, and the Standard & Poor’s closed 0.7 percent to 4274.06. The Nasdaq fell 1.25 percent to 12,938.12.
22 of the 30 stocks in the Dow are down, with 8 down more than 1.0 percent and two down more than 2.0 percent. Boeing It fell 2.85 percent and is today’s loser among the heavyweights.
IBM The winner was among 30 stocks in Dow Jones, with an increase of 0.9 percent. apple It ended 0.9 percent at $174.55. Apple was also the only tech heavyweight to rise. The stock then “only” fell 4.1 percent from its all-time high of $182.01 from January 3 this year.
Microsoft It fell 0.5 percent while the alphabet It finished down 1.8 percent and Amazon fell 1.9 percent. dead It fell 1.6 percent to $174.85 Tesla It fell 0.8 percent to $911.99.
VIX . indicator It rose 1.8 percent to 20.03.
Oil, interest, gold and bitcoin
Oil prices rose and light sweet crude rose 1.4 percent to $87.72 in electronic trading on the New York Mercantile Exchange when exchanges closed. Brent rose 1.0 percent to $93.28, down 32.4 percent from a year high of $138.03 on the day on March 7.
The 10-year interest rate rose 3.2 percent, equivalent to 8.3 basis points, to 2.895 percent, while the 30-year interest rate rose 1.75 percent, equivalent to 5.7 basis points, to 3.149 percent.
The price of gold fell 0.65 percent to $1,764.50, while the price of bitcoin fell by 1.0 percent to $23,353 as exchanges closed in New York.
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