Blue chip stocks on Wall Street extended their rally to a seven day after clawing back losses earlier in the session.The Dow Jones Industrial Average rose a bare 3.7 points to 10,366.72, taking it closer to recovering all its losses this year after a 7% g
Blue chip stocks on Wall Street extended their rally to a seven day after clawing back losses earlier in the session.
The Dow Jones Industrial Average rose a bare 3.7 points to 10,366.72, taking it closer to recovering all its losses this year after a 7% gain in the past week.
Investors were spooked after the Federal Reserve said further monetary stimulus measures might be needed and rolled back their economic outlook.
However, Fed board members agreed no further accommodation was needed at the time. Sentiment also was hit by the second successive monthly fall in US retail sales. Sales in June fell by 0.5%, a worse result than analysts had expected.
Stocks had been trading in a narrow range, losing earlier gains just ahead of the minutes' release. A strong second-quarter report from Intel buoyed technology stocks, though financials lagged behind, ahead of bank earnings.
The Nasdaq closed 0.35% higher at 2249.84, while the S&P 500 index was down marginally at 1095.17 0.2%.
Other markets: Europe mixed, Asia up
European stocks ended narrowly mixed as market participants awaited economic data and corporate earnings.
The pause snapped a six-session winning streak for the Stoxx Europe 600 Index, which closed fractionally lower at 255.92.
The UK's FTSE 100 index fell 0.3% to 5253.52, and France's CAC-40 index eased 0.1% to 3632.98, also ending six-session runs. But Germany's DAX added 0.3% to 6209.76, extending its streak to seven.
Asian markets climbed as Intel's strongest-ever quarterly results buoyed technology shares, while robust economic data in Singapore also aided sentiment.
Technology shares around the region climbed after the bullish Intel result, while GDP figures in Singapore soared 26% on an annualised, seasonally adjusted basis in the second quarter, far better than estimates.
The government also raised its full-year growth forecast to between 13% and 15% from its May estimate of 7% to 9%.
Japan's Nikkei Stock Average jumped 2.7% to 9795.24, with carmakers rising as the euro gained against the yen.
Australia's S&P/ASX 200 gained 1.9% to 4462.44, Korea's Kospi rose 1.3% to 1758.01 and Hong Kong's Hang Seng Index advanced 0.6% to 20560.81.
China's Shanghai Composite climbed 0.8% to 2470.44 and Singapore's Straits Times Index rose 0.8% to 2952.81.
Commodities: Oil up, gold down
Crude prices ventured into positive territory after the US reported oil inventories fell more than expected last week. However, the Energy Information Administration report also pointed to a further decline in petrol demand, and crude prices remained under pressure from weak economic indicators.
Light, sweet crude for August delivery was up 10USc, or 0.1%, at $US77.04 a barrel in New York, after rising as high as $US77.45 a barrel. Brent crude on the ICE futures exchange traded 28USc higher at $US76.37 a barrel.
Gold futures fell slightly as stocks and currency markets were stable, reducing demand for the metal.
The most actively traded contract, for August delivery, settled down $US6.50, or 0.5%, at $US1,207 an ounce in New York.
Currencies: Dollar down. Euro up
The US dollar fell against the yen after the Federal Reserve painted a downbeat picture of the US economy.
The euro stayed above the psychologically key $US1.27 mark after gaining earlier in the day to its highest level against the dollar since May.
The UK pound hit a more than two-month high against the dollar after the UK's two main measures of unemployment both fell in June and May, while employment rose by the largest amount in almost four years.
The euro was at $US1.2738 from $US1.2721 late on Tuesday. The euro earlier hit its highest level since early May, at $US1.2778.
The dollar was at ¥88.13 from ¥88.58, while the euro was at ¥112.20 from ¥112.64. The UK pound was at $US1.5254 from $US1.5173.
