Wednesday 12th February 2025 |
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The US markets closed higher on Tuesday as gains in Coca-Cola and Apple offset losses in Tesla, while investors parsed Federal Reserve Chair Jerome Powell's latest comments.
The US central bank is no rush to cut its short-term interest rate again given the economy is "strong overall", with low unemployment and inflation still above the Fed's 2% target, Powell said in opening remarks at a Senate Banking Committee hearing
The Dow Jones Industrial Average closed up 0.33%, while the S&P 500 and Nasdaq Composite were up 0.67% and 1.03%.
Other key markets ended mixed. European stocks closed as follows: the FTSE100 (+0.11%), the Dax 30 (+0.58%), CAC 40 (+0.28%) and the STOXX (+0.61%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(+0.04%), HSI (-1.06%) and the Shanghai Composite (-0.12%).
The yield on the US 10 - year note was at 4.537%, while the 2 - year note was at 4.292%. Oil was up to $73.92 per barrel, up 2.06%. The gold price was at US$2982.00 per ounce, up 1.63%.
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