Wall Street ends little changed by mostly higher

Economies.com
2017-03-13 20:31PM UTC

U.S. stock indices closed mixed by still near record highs amid a lack of data from the world's largest economy, as markets await the Federal Open Market Committee's 14-15 periodic meeting, with policymakers expected to reveal their three-year forecasts for inflation, growth, unemployment, and interest rates, with the latest expected to rise by 25 basis points this week to between 0.75% and one percent after Fed Chair Yellen said last week a rate hike would be appropriate if inflation and employment kept in line with the Committee's forecasts.
 
Last Friday, the payrolls report showed the U.S. economy created 235 thousand new jobs in February, beating expectations, while the unemployment sector fell to 4.7% as expected. Average hourly earnings rose 0.2%, missing expectations, but the data overall bolstered the case for a rate hike this week, while noting Yellen has said the pace of policy tightening this year will be faster than in 2015 and 2016.
 
Dow Jones closed down 0.10%, or 21.50 points to 20,881.48, while Standard and Poor's 500 rose 0.04%, or 0.87 points to 2,373.47. NASDAQ Composite advanced 0.24%, or 14.06 points to 5,875.78.
 
Gold futures due on April 15 rose 0.22% to $1,204.00 an ounce from the opening price of $1,201.40, while the dollar index rose 0.12% to 101.37 from the opening of 101.30.
 
U.S. crude futures due on April 15 fell 1.50% to $48.54 a barrel from the opening of $49.28, while Brent crude futures due on May 16 tumbled 1.38% to $51.47 a barrel from the opening of $52.19.

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