US equity markets saw gains on Wednesday, fueled by a generally positive trading session. The Dow Jones Industrial Average closed at 34,458 points, reflecting a 0.5% increase from the previous day’s close.
The broader S&P 500 reached approximately 4,260 points, up 0.6%, while the technology-focused Nasdaq 100 registered around 13,865 points, exhibiting a 0.7% gain at the same time.
Recent developments surrounding US trade policy have introduced a layer of complexity. While the administration has signaled potential adjustments to tariff rates for certain nations, diverging from earlier announcements, the Federal Reserve’s minutes from its most recent policy meeting reveal concerns regarding the potential economic repercussions of escalating trade tensions. The minutes indicated a cautious approach among policymakers, with many hesitant to implement immediate interest rate cuts, citing fears of inflationary pressure stemming from potential tariff increases.
The Euro weakened slightly against the US dollar to 1.1718, translating to a dollar exchange rate of 0.8534.
Gold prices saw an uptick, reaching $1,928.31 per fine ounce, a 0.4% increase. This equates to approximately €53.27 per gram.
Crude oil prices experienced a marginal decrease. Brent North Sea crude traded at $70.10 per barrel, down five cents or 0.1% compared to the previous day’s closing price.