US Stocks End Mixed as Investors Assess Fed Commentary, Q1 GDP Contraction

Last Updated: Wednesday, June 29, 2022 4:13 PM | MT Newswires

US stocks swung between small gains and sizable losses, ending mixed after a first-quarter gross domestic product estimate that was unexpectedly revised lower and as Chairman Jerome Powell said the Federal Reserve can lower inflation while keeping the labor market strong.

The Dow Jones Industrial Average rose 0.3% to 31,029.31, while the S&P 500 fell 0.1% at 3,818.83 and the Nasdaq Composite ended fractionally lower at 11,177.89.

Energy and real estate led the decliners, while healthcare and consumer staples sectors were the top gainers.

The US 10-year yield sank 11.2 basis points to 3.10%.

West Texas Intermediate crude oil futures slipped 2.1% to $109.45 per barrel.

Gold was down 0.1% to $1,819.70 per troy ounce, and silver fell 0.6% to $20.75 per ounce.

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