US stocks open flat

Comment on this story
IOL wall street THE PHOTO HOLIC File image

New York - US stocks opened flat Wednesday as investors digested mixed housing and inflation data and awaited the minutes of last month's Federal Reserve monetary policy meeting.

Five minutes into trade, the Dow Jones Industrial Average was up 1.18 points (0.01 percent) at 14,036.85.

The S&P 500-stock index slipped 1.43 points (0.09 percent) to 1,529.51 and the tech-rich Nasdaq Composite edged down 0.82 point (0.03 percent) to 3,212.78.

The Dow and the S&P finished at new five-year highs Tuesday after posting modest gains.

Patrick O'Hare at said the upward climb “was defined not so much by unbridled buying interest as it was by a lack of selling interest.”

“The fear of missing out on further gains in the equity market continues to trounce the fear of anything bad happening. That mindset is impressive and at the same time unsettling,” he said.

The Fed's Federal Open Market Committee minutes for the January 29-30 meeting were scheduled for release at 2:00 pm (21:00 SA time). - Sapa-AFP

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines