- U.S. stocks open higher as investors digest Fed minutes.
The S&P 500 and Dow Jones Industrial Average opened higher on Wednesday as investors digested the minutes from the Federal Reserve's latest meeting. The minutes showed that policymakers are still committed to raising interest rates in an effort to combat inflation.
- Oil prices rise on supply concerns.
Oil prices rose on Wednesday as concerns about supply disruptions outweighed concerns about a possible recession. The price of Brent crude oil rose to $120 per barrel, while the price of West Texas Intermediate crude oil rose to $118 per barrel.
- Tech stocks mixed as investors await earnings reports.
Tech stocks were mixed on Wednesday as investors awaited earnings reports from major tech companies, including Microsoft, Alphabet, and Amazon. Microsoft and Alphabet both reported strong earnings, while Amazon reported mixed results.
- Retail stocks rise as investors bet on a rebound in consumer spending.
Retail stocks rose on Wednesday as investors bet on a rebound in consumer spending. The S&P Retail Select Industry Index rose 1.5%.
- Bond yields rise as investors expect more aggressive Fed tightening.
Bond yields rose on Wednesday as investors expected the Federal Reserve to continue to raise interest rates aggressively in an effort to combat inflation. The yield on the 10-year Treasury note rose to 3.2%.
- Gold prices fall as investors bet on a stronger dollar.
Gold prices fell on Wednesday as investors bet on a stronger dollar. The price of gold fell to $1,830 per ounce
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Bitcoin prices fell below $29,000 on Wednesday, extending a sell-off that has seen the cryptocurrency lose more than half of its value since its peak in November 2021.
Cryptocurrency lending platform Celsius Network paused withdrawals on Wednesday, citing "extreme market conditions." The move sparked concerns about the health of the cryptocurrency market.
Stocks in Europe and Asia were mixed on Wednesday. The Stoxx Europe 600 index was down 0.2%, while the Nikkei 225 index in Japan was up 0.4%.
The U.S. dollar index rose on Wednesday, hitting a 20-year high. The index is up more than 10% this year as investors bet on a stronger Federal Reserve and a slower global economy.
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