US stocks close mostly lower after Fed minutes

GMT 20:54 2015 Wednesday ,20 May

Arab Today, arab today US stocks close mostly lower after Fed minutes

US stocks
New York - AFP

US stocks finished mostly lower Wednesday after a shortlived jump that came when the Federal Reserve's policy meeting minutes cast doubt on an interest rate hike in June.

As the markets closed, the Dow Jones Industrial Average was down 26.92 points (0.15 percent) at 18,285.47.

The broad-based S&P 500 slipped 2.01 (0.09 percent) to 2,125.82, while the tech-rich Nasdaq Composite Index inched up 1.71 (0.03 percent) to 5,071.74.

Stocks spiked higher briefly in the afternoon after the Federal Reserve published the minutes of its April 28-29 monetary policy meeting.

"Many participants" at the meeting "thought it unlikely that the data available in June would provide sufficient confirmation that the conditions for raising the target range for the federal funds rate had been satisfied," the minutes said, although they did not rule out the possibility.


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