Dow Jones Average declined on absence of easing measures

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Source: Dukascopy Bank SA

Dow Jones Industry Average ended US session with moderate loss of 0.38% on Wednesday after disappointing Fed minutes. Lack of additional stimulus for the US economy created notable pressure on the US equities. Only oil and gas sector went higher, advancing by 1.20% on soaring energy prices. EIA report indicated that a decline in US crude oil inventories was much larger than estimated. Exxon Mobile and Chevron rallied 1.53% and 0.93%. Among financials, Bank of America and JPMorgan Chase & Co gained 2.01% and 0.99%. Meanwhile, technology sector was mixed after Tuesday's slump, with Hewlett-Packard rising by 3.04% and Intel Corp falling by 0.67%.

 

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