Markets Mixed with Investor Reaction to Fed Meeting
(NEW YORK) — Stocks are mixed as investors go over the minutes of the Federal Reserve’s December policy meeting.
The Dow Jones Industrial Average closed down 70 points Wednesday at 16,462.74. The Nasdaq Composite rose 12 points to 4,165.61. The S&P 500 was off a fraction to close at 1,837.49.
The blue chips index has moved between gains and losses for the last six sessions, while the S&P has been down for four of the past five sessions.
Some members of the Fed are worried that financial markets might misread its decision to reduce its bond buying as a step toward raising interest rates. The Central Bank says that won’t happen until unemployment drops below 6.5 percent nationally.
Meanwhile, if you’re looking for a job, there are signs it’s getting easier to find one. Payroll company ADP says employers added 238,000 jobs in December — the most jobs in a year. The biggest jump was in construction jobs.
The December employment report is due out on Friday.
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