Economy

US Indices end on a mixed Note post Federal Reserve announcement

US Indices end on a mixed Note post Federal Reserve announcement”

Stocks inched higher in Asia on Thursday, tracking muted gains on Wall Street overnight even as the Federal Reserve signaled an optimistic view of the US economy.

"Still, it would not be surprising if some investors used the uncertainty as a reason to take profits after recent strong gains", she said.

Meanwhile, New Zealand's NZX 50 Index rebounded 0.2% after bucking gains in the region Wednesday. Australia's S&P/ASX 200 edged 0.1 percent lower to 5,931.70. Stocks in Singapore elsewhere in Southeast Asia were mixed.

US Federal Reserve made a subtle upgrade in the assessment of the economy, reinforcing expectation on the December interest rate hike. President Donald Trump is expected to name a successor to Fed Chair Janet Yellen later Thursday. "I think you'll be extremely impressed by this person", Trump said, according to a White House transcript of the meeting.

Asian shares were narrowly mixed on Thursday after Wall Street closed mixed in the last session.

At 0600 GMT, the S&P BSE Sensex rose 0.13 percent at 33,644 while the broader NSE Nifty added 0.06 percent to 10,446. The Dow Jones industrial average gained 0.3 percent to 23,435.01. The contract settled at $54.30 per barrel on Wednesday, down 8 cents.

But NTPC lost 1.3 percent after 18 people were killed and up to 100 injured in an boiler blast in state-run NTPC's Unchahar power plant in Raebareli, Uttar Pradesh.

Crude oil futures firmed, with Brent crude LCOc1 up 14 cents at $60.63 per barrel and US crude CLc1 up 3 cents at $54.33. Brent crude, the worldwide standard, gained 8 cents to $60.57 per barrel in London.

U.S. Treasury yields fell further on Wednesday and the yield curve was its flattest since 2007 after the Treasury Department said it would keep auction sizes steady in the coming months, despite the Fed's plan to reduce its bond holdings.

CURRENCIES: The dollar rose to 113.90 Japanese yen from 113.71 yen late Wednesday.



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