Equities Mixed as Markets Await Next Week's Fed Decision

MT Newswires Live12-14

US benchmark equity indexes were struggling for direction ahead of Friday's close as markets awaited the Federal Reserve's monetary policy decision due next week.

The Dow Jones Industrial Average was down 0.1% at 43,855.6, while the Nasdaq Composite rose 0.1% to 19,924. The S&P 500 was little changed at 6,052.8. Among sectors, communication services saw the biggest drop, while technology paced the gainers.

Official US data released during the week showed that monthly consumer inflation accelerated in line with market estimates in November, while producer prices rose more than expected.

The odds of the Federal Open Market Committee lowering interest rates by 25 basis points next week reached 97% Friday, up from 86% a week earlier, according to the CME FedWatch tool.

The US 10-year yield was up 7.9 basis points at 4.40%, while the two-year rate rose 5.9 basis points to 4.25%.

West Texas Intermediate crude oil rose 1.7% to $71.20 a barrel.

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