The S&P 500 gained ground on Wednesday after minutes from the Federal Reserve's March policy meeting revealed several voting members of the Federal Open Markets Committee (FOMC) considered a pause in interest rate hikes amid the regional bank liquidity crisis.
Trader works on the floor of the New York Stock Exchange in New York City, U.S., March 30, 2023. REUTERS/Brendan McDermid/File PhotoIndexes up: Dow 0.51%, S&P 0.34%, Nasdaq 0.05%gained ground on Wednesday after minutes from the Federal Reserve's March policy meeting revealed several voting members of the Federal Open Markets Committee considered a pause in interest rate hikes amid the regional bank liquidity crisis.
The major indexes seesawed as market participants parsed the Labor Department's Consumer Price Index ., on prices urban consumers pay for a basket of goods and services, came in below analysts' expectations, suggesting that the Fed's efforts to tame inflation is taking effect. "We saw progress on headline inflation and people started digging in and the initial optimism reversed," Hill added. "The core numbers have seen improvement but they’re well above where they need to be."
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