· The Dow Jones Industrial Average .DJI fell 10.05 points, or 0.05 percent, to 22,286.04, the S&P 500 .SPX gained 0.23 points, or 0.01 percent, to 2,496.89 and the Nasdaq Composite .IXIC added 9.57 points, or 0.15percent, to 6,380.16.
The S&P 500 ended flat on Tuesday and the Nasdaq posted modest gains as technology shares bounced from sharp losses in the prior session and comments from Fed Chair Janet Yellen boosted expectations of a December rate hike.
· “Investors should be looking out for a December hike given we don’t know what happens to the Fed chair position next year. (Yellen), probably wants to be able to, knowing anyone new in that role might not feel comfortable tightening the first month,” said Jack Ablin, chief investment officer at BMO Private Bank in Chicago.
· Asian shares remained cautious on Wednesday as investors digested Federal Reserve Chair Janet Yellen's overnight speech and as North Korea tensions took a backseat.
· The benchmark Nikkei 225 slid 0.41 percent in early trade despite the weaker yen as automakers, financials and trading houses pulled back.
Reference: Reuters, CNBC
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