The S&P 500 and Nasdaq held on for gains in the current session as investors focused on the ongoing Fed meeting and the inflation measure due on Wednesday.
The Fed’s two-day policy-making meeting began today (11/6) and will end on Wednesday with a decision on interest rates and a press conference with chairman Jerome Powell. The markets believe that the board will once again take a wait-and-see stance, which will keep interest rates unchanged, but anxiously await new economic forecasts.
In detail the Dow Jones fell 0.321% or 118 points to 38,747, the S&P 500 gained 0.27% to 5,375 points and the Nasdaq moved higher by 0.88% to 17,343 points.
At the same time, US bond yields followed a downward trajectory as the 10-year fell three basis points to 4.43%, while the 2-year decreased four basis points to 4.85%.
In commodity markets, Brent crude was up 0.3% at $81.83 a barrel and WTI crude was up 0.1% at $77.83. As a result, the price of gold rose higher by 0.2% to $2,331/oz.
In the foreign exchange market, the dollar rose 0.1% against the euro to $1.0748.