The US stock market closes on Thursday for a holiday honouring Juneteenth, also known as America's Second Independence Day, which marks the end of slavery in the country.
At the close of trading on Wednesday, the Dow Jones Industrial Average fell 0.10% to 42,171 points, the S&P 500 remained flat at 5,980 points, and the Nasdaq Composite rose 0.15% to 19,546 points.
While trading resumes normally on Friday, the three indices are heading for weekly losses as the Israel–Iran conflict in the Middle East escalates, amid fears that the conflict could expand to include external parties such as the US.
Although the Federal Reserve maintained yesterday interest rates in a range of 4.25% and 4.5%, markets received conflicting signals from the meeting's outcomes. The central bank indicated its intention to implement two interest rate cuts this year but warned of the risks of stagflation after lowering its economic growth forecasts and raising its inflation estimates.
AI Summary
Comments Analysis: