US stock markets finish varied as inflation risks, employment data weigh on investors
(MENAFN) US stock markets closed mixed on Wednesday as investors weighed the potential impact of rising inflation risks and disappointing employment data.
Minutes from the Federal Reserve’s most recent meeting revealed that officials expressed concerns over inflationary pressures potentially linked to President-elect Donald Trump’s trade and immigration policies. The minutes highlighted an increased risk of upward inflation, which could have broader economic implications.
In other economic news, data released earlier in the day showed that private sector employment grew by 122,000 in December, falling short of market expectations for a stronger increase. Meanwhile, the number of initial claims for unemployment benefits decreased to 201,000 in the last week, marking the lowest level in 11 months and coming in below analysts' projections.
The Dow Jones Industrial Average ended the day up by 106.84 points, or 0.25 percent, reaching 42,635.20. The S&P 500 rose by 9.22 points, or 0.16 percent, closing at 5,918.25, while the Nasdaq Composite slipped by 10.80 points, or 0.05 percent, to 19,478.88.
The New York Stock Exchange will be closed on Thursday in observance of a national day of mourning for the passing of Jimmy Carter, the 39th President of the United States.
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