US stocks close lower after release of Fed meeting minutes

US stocks declined at the close of Dec. 30 trading, as renewed profit-taking pressure in the technology sector combined with investors assessing signals from the minutes of the Federal Reserve’s latest meeting.

At the close of the session, the Dow Jones Industrial Average fell by 0.20%, or 94 points, to 48,367 points.

The broader S&P 500 index declined by 0.14%, or nine points, to 6,896 points, while the Nasdaq Composite fell by 0.24%, or 55 points, to 23,419 points.

On the other hand, the STOXX Europe 600 index rose by 0.60% to 592.78 points, closing at a new record high.

The UK’s FTSE 100 index increased by 0.75% to 9,940 points, while France’s CAC 40 gained 0.69% to 8,168 points. Germany’s DAX added 0.57% to 24,490 points, recording annual gains of 23%.

In Japan, the Nikkei 225 index declined by 0.35% to 50,339 points, while the broader TOPIX index fell by 0.50% to 3,408 points; however, both indices posted annual gains exceeding 26% and 22%, respectively.

As for oil, benchmark Brent crude futures for February delivery—which expired today—were unchanged at $61.92 per barrel.

By contrast, US Nymex crude futures for February delivery fell by 0.22%, or 13 cents, to $57.95 per barrel.

On gold, futures for the precious metal for February delivery rose by 1%, or $42.7, to $4,386.30 per ounce at settlement.

The minutes of the Federal Reserve meeting held earlier this month, during which interest rates were cut by 25 basis points, showed that most policymakers supported further rate cuts if inflation slows as expected. However, they also noted that the current economic outlook may make a temporary pause the more appropriate option.