x
Breaking News
0

U.S. Treasuries, Wall Street stocks steady after Fed minutes

Stock MarketsOct 11, 2017 03:19PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Traders work on the floor of the NYSE in New York

By Sinead Carew

NEW YORK (Reuters) - U.S. Treasury prices and stocks worldwide were little changed on Wednesday after minutes from the Federal Reserve's September policy meeting were in line with expectations, while the euro was higher after Catalonia held off on moving to independence.

The euro move helped push the dollar index down for the fourth day in row. The dollar briefly extended its drop after Fed minutes showed that policymakers had a prolonged debate about the prospects of a pickup in inflation and the path of future interest rate rises if it did not.

Wall Street's major stock indexes clung to small gains as a jump in shares of defensive sectors such as utilities was offset by declines in sectors such as financials a day before the start of the quarterly corporate reporting season.

"Third-quarter results of large banks are expected to be tepid," said Stephen Biggar, an analyst at Argus Research. "Trading revenue (will be) down due to low volatility and loan growth remaining flat to slightly negative."

The Dow Jones Industrial Average (DJI) was up 22.61 points, or 0.1 percent, to 22,853.29, the S&P 500 (SPX) gained 2.01 points, or 0.08 percent, to 2,552.65 and the Nasdaq Composite (IXIC) added 8.79 points, or 0.13 percent, to 6,596.04.

The euro reached a roughly two-week high after Catalonia's leader, Carles Puigdemont, declined to make a formal independence declaration on Tuesday to allow for talks with Madrid. That disappointed many pro-independence supporters but pleased financial markets.

A 1.3-percent jump in Spain's IBEX (IBEX) more than reversed the previous session's fall while the broader equities market showed a lackluster performance.

The pan-European FTSEurofirst 300 index (FTEU3) lost 0.01 percent and MSCI's gauge of stocks across the globe (MIWD00000PUS) gained 0.16 percent.

Meanwhile, the dollar index (DXY) fell 0.33 percent, with the euro up 0.4 percent to $1.1853.

It was also affected by U.S. President Donald Trump's spat with Tennessee Senator Bob Corker - an influential fellow Republican - which raised concerns that Trump's tax reform push may be in jeopardy.

U.S. Treasuries were little changed after the Fed minutes and after the Treasury Department saw solid demand for three-year and 10-year note supply.

Benchmark 10-year notes (US10YT=RR) were virtually unchanged in price to yield 2.3445 percent, from 2.345 percent late on Tuesday.

The 30-year bond (US30YT=RR) was last up 3/32 in price to yield 2.8768 percent, from 2.881 percent late on Tuesday.

Oil prices were virtually unchanged on Wednesday as Saudi Arabia said it pumped more in September than in August, even as OPEC forecast higher demand for 2018.

U.S. crude rose 0.73 percent to $51.29 per barrel and Brent was last at $56.88, up 0.48 percent.

Gold prices were barely up after declining in the previous session. Spot gold added 0.2 percent to $1,289.80 an ounce.

U.S. Treasuries, Wall Street stocks steady after Fed minutes
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

 
Are you sure you want to delete this chart?
 
Write your thoughts here
 
Replace the attached chart with a new chart ?
Post
Post also to:
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
 
Replace the attached chart with a new chart ?
Post 1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email