Stocks on Wall Street ended vary on Wednesday or Thursday (19/1/2017) morning GMT, as investors consider the statements of the Chairman of the Federal Reserve, Janet Yellen, in the middle of a number of economic data.
Index Dow Jones Industrial Average was down 22.05 points or 0.11 percent to close at 19,804.72 points. Meanwhile, the index S&P 500 ended a thin ride 4.00 points or 0.18 percent to 2,271.89 points, and the Nasdaq composite index increased Composite 16.93 0.31 points or percent to 5,555.65 points.
In her speech prepared, Yellen said Wednesday afternoon that the U.S. economy was approaching the central bank targets, giving impetus to begin to reduce the extreme levels of support that has been given the central bank over the past decade, according to CNBC.
“Now our feet are still pressing the gas pedal, even though, as I noted, we have reduced it back a little bit,” said Yellen
The Fed Beige Book report released ahead of the speech, Yellen was also in focus.
According to the Beige Book, reports from the twelve Federal Reserve districts indicate that the economy continues to expand at a moderate pace in most regions from late November until the end of the year.
On the economic side, the consumer price index (CPI) for all urban consumers increased by 0.3 percent seasonally adjusted in December, in line with the market consensus, the U.S. Labor Department reported Wednesday.
“As prices of food, energy and commodities has been spun over the last few years, the cost of services has continued to increase. Considering the price of gasoline at the moment, the main figure will reach the highest position for this year at 2.5 per cent next month, capping another significant leap in energy prices on 2017.0 “says Jay Morelock, an economist at FTN Financial.
Meanwhile, U.S. industrial production rose 0.8 percent in December after falling 0.7 percent in November, the Fed said Wednesday.
The developers of the U.S. confidence in the market for a new single family home built remained strong in January, down two points to as low as 67 from the revised December figure was down 69 on the index Housing National Association of Home Builders/Wells Fargo Market…(Red).