US stocks mixed after Fed minutes from January meeting
Wall Street stocks finished mixed on Wednesday following Federal Reserve minutes that signalled slower interest rate cuts ahead. Fed officials offered mixed views over the timing of cutting interest rates, but most members voiced concern about moving early. The tone marked a shift from the Fed's prior meeting, which made the minutes "appear to tilt hawkish because traders went into the January meeting anticipating a far more dovish Fed than was realistic to expect based on earlier Fed communication," said FHN Financial's Chris Low. The Dow Jones finished 0.1 percent higher at 38,612. The S&P 500 gained 0.1 percent to 4,981, while the Nasdaq dropped 0.3 percent to 15,580. Analysts also cited unease about Nvidia earnings later on Wednesday in light of outsized expectations over artificial intelligence. Nvidia shares dropped nearly three percent. Palo Alto Network sank nearly 30 percent following a disappointing outlook, a forecast that also weighed on peer companies CrowdStrike, which lost 9.7 percent and Zscaler, which plunged 14.1 percent. Among other stocks, Amazon rose 0.9 percent after the announcement that the online shopping giant would join the prestigious Dow index, replacing Walgreens Boots Alliance, which fell 2.5 percent. (AFP)