Stocks were mostly steady on Wednesday as traders looked at possible future Federal Reserve rate cuts with concerns about rising prices. The Dow Jones Industrial Average went up a little, while the S&P 500 and Nasdaq Composite also saw small movements. These three major stock averages are on track for a second week of losses.
The Federal Reserve released meeting minutes from December, showing worries about inflation and signaling a possible slowdown in rate cuts. Bond yields, which show how much interest investors can earn, were up as investors watched for data on Friday’s job report.
Some individual stocks were in the news, like Palantir, which has gone up a lot recently but was down for the third day in a row. Another company, Advanced Micro Devices, saw a drop after a negative rating by HSBC.
Overall, with uncertainty about government policies and economic data, the market could be unpredictable in the coming days. Investors are watching closely for any surprises in the job report on Friday.
Vocabulary List:
- Inflation /ɪnˈfleɪ.ʃən/ (noun): The rate at which the general level of prices for goods and services is rising.
- Uncertain /ʌnˈsɜːr.tən/ (adjective): Not able to be relied on; not known or definite.
- Yield /jiːld/ (verb): To produce or provide (a return or profit).
- Steady /ˈstɛdi/ (adjective): Firmly fixed supported or balanced; not shaking or moving.
- Report /rɪˈpɔːrt/ (noun): An account given of a particular matter especially in the form of a document.
- Movements /ˈmuːv.mənt/ (noun): An act of changing physical location or position or of having this changed.
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