US stock markets ended the day in a mixed state. At the closing of New York trade, the Dow Jones Industrial Average was at 47,417 points, down 0.6 % from the previous trading day. A few minutes earlier, the broader S&P 500 stood around 6,776 points, 0.1 % lower, while the Nasdaq 100 traded near 24,965 points, showing a modest gain.
The U.S. Bureau of Labor Statistics reported that the inflation rate for February remained at 2.4 %, the same level as the month before. This figure typically signals to investors how the Federal Reserve may approach future rate policy, as the central bank might lift rates to hit its 2.0 % inflation target. However, the ongoing conflict between the United States and Israel against Iran complicates Fed forecasts. Rising oil prices spurred by the war risk stoking inflation and threatening price stability, while the Fed’s second mandate-maximum employment-could also be impacted by the conflict’s economic fallout.
In foreign exchange, the euro weakened on Wednesday night: one euro was worth 1.1573 USD, and one USD was priced at 0.8641 euro.
Gold fell modestly; by the evening, a troy ounce fetched 5,183 USD, a 0.1 % decline, equivalent to 143.99 EUR per gram.
Oil, meanwhile, surged sharply. As of around 21:00 CET Wednesday, Brent crude averaged 92.50 USD per barrel, up 5.4 % from the previous day’s close.