A day after minutes from the latest Federal Reserve meeting fanned interest-rate fears on Wall Street, US equities endured another choppy session in markets.
The S&P 500, which had jumped more than1 per cent earlier in the day, closed up 0.09 per cent to 2,703.8. The energy sector led the pack with a 1.4 per cent advance — thanks in part to a rebound in oil prices and a 20 per cent climb for Chesapeake Energy after strong earnings— while financials sand to the bottom of the benchmark index.
The Dow Jones Industrial Average advanced 0.66 per cent to 24,961.48. United Technologies Corp was one of the index’s biggest gainers after its chief executive said it was exploring a possible break-up of its diverse business portfolio.
After dipping into negative territory earlier in the day, the Nasdaq Composite never fully regained it footing, ending the day down 0.12 per cent to 7,209.65.
The dollar, which swung between gains and losses after the Fed minutes, softened on Thursday. The dollar index, which measures the buck against a basket of peers, dropped 0.25 per cent to 89.776.
US Treasury yields also backed off of their recent highs, with the yield on the 10-year note dropping to 2.92 per cent and the more policy-sensitive 2-year ending the day at 2.254 per cent.
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