US stocks trade mixed ahead of Fed minutes

US stocks trade mixed ahead of Fed minutes

New York, July 7 (IANS) US stocks traded mostly lower in the morning session on Wednesday as investors awaited US Federal Reserve minutes and digested a slew of economic data.

The Dow Jones Industrial Average shed 28.59 points, or 0.16 per cent, to 17,812.03, Xinhua news agency reported.

The S&P 500 ticked down 0.99 points, or 0.05 per cent, to 2,087.56. The Nasdaq Composite Index rose 16. 19 points, or 0.34 per cent, to 4,839.10.

The June Fed minutes will be perused for indications of the Fed’ s concerns over recent weakness in the US economy and the Brexit referendum, said Chris Low, chief economist at FTN Financial on Wednesday.

US stocks closed lower on Tuesday, snapping a four-session winning streak, as Wall Street shifted its focus from Brexit to the uncertainty over the timing of the next rate hike.

Tokyo stocks edge up

Tokyo, July 7 (IANS) Tokyo stocks edged higher from the bell on Thursday as Wall Street’s rally overnight coupled with a less firm yen against the US dollar offset broader concerns about the health of the global economy.

The 225-issue Nikkei Stock Average inched up 2.34 points, or 0.02 per cent, from Wednesday to 15,381.33, Xinhua news agency reported.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, rose 1.42 points, or 0.12 per cent, to 1,235.62.

Early issues that advanced comprised insurance, banking and security-linked stocks.

Chinese shares open lower

Beijing, July 7 (IANS) Chinese stocks opened lower on Thursday, with the benchmark Shanghai Composite Index down 0.23 per cent to open at 3,009.35 points.

The smaller Shenzhen index opened 0.28 per cent lower at 10,612.23 points, Xinhua news agency reported.

The ChiNext Index, tracking China’s NASDAQ-style board of growth enterprises, was down 0.03 per cent to open at 2,240.9 points.

US dollar ticks down amid Fed minutes

New York, July 7 (IANS) The US dollar declined against most other major currencies on Wednesday as investors digested the minutes from Federal Reserve’s June policy meeting amid economic data.

In late New York trading, the euro rose to $1.1104 from $1.1072 in the previous session, and the British pound declined to $1.2922 from $1.3024 in the previous session, Xinhua news agency reported.

The Australian dollar increased to $0.7517 from $0.7460.

The US dollar bought 101.39 Japanese yen, lower than 101.54 yen of the previous session.

The U.S. dollar lost to 0.9743 Swiss franc from 0.9769 Swiss franc, and it dipped to 1.2956 Canadian dollars from 1.2990 Canadian dollars.

According to the minutes released, US central bank policymakers said it was prudent to wait for more data and the Brexit vote result before raising rates.

Fed officials also cited a severe slowdown in hiring by US employers as a reason for leaving interest rates steady last month, the minutes showed.

The dollar index, which measures the greenback against six major peers, was down 0.08 per cent at 96.089 in late trading.

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