Wall Street closes mixed after Fed, oil leads gains
Wall Street finished a day of trading mostly in the green on Wednesday after the United State Federal Reserve Beige Book release stated a moderate economic growth. The investment incentives remained high amid a strong earnings season as market watchers continued to anticipate third quarter reports from eBay and American Express both due after market close. Energy sector led the gains after Energy Information Administration (EIA) reported the U.S. oil inventories decreased by 5.2 million barrels to 468.7 million barrels in the week ending October 14.
The Dow Jones Industrial Average Index closed 0.22% higher, adding around 40 points. The main advancer was Goldman Sachs, increasing 1.17% at 9:55 p.m. CET after it announced better-than-expected earnings yesterday.
The S&P 500 also finished trade 0.22% in the green, with energy leading the advances.
The Nasdaq 100 traded flat, decreasing 0.06% at the close.
Oil prices continued to extend today’s gains after adding over 2% in earlier trade after positive stocks data. WTI for November delivery traded 1.66% in the green, changing hands for $51.58 per barrel at 9:29 p.m. CET while Brent for settlements in December added 0.83% to trade for $52.55 per barrel at 10:03 p.m. CET.