Investing.com – U.S. stocks were mixed on Wednesday, following Japan's intervention in currency markets to curb the yen's recent sharp gains and after a flurry of mixed U.S. economic data.
During early U.S. trade, the Dow Jones Industrial Average was up 0.21%; the S&P 500 index fell 0.06% and the Nasdaq Composite index gained 0.02%.
Japan's USD 12 billion intervention saw the U.S. dollar appreciate more than 3% against the yen. The move saw risk appetite decrease and weighed on equities and commodities.
Also Wednesday, the U.S. Federal Reserve said that industrial production fell more-than-expected in August while the capacity utilization rate fell unexpectedly in August.
Meanwhile, separate data showed that an index of manufacturing conditions in New York State fell more-than-expected in September, while import prices increased more-than-expected in August, rising for a second consecutive month.
Gains in healthcare and technology stock helped limit losses, with shares in Medco Health Solutions rising 1.47% amid takeover speculation. Meanwhile, shares in software manufactures Novell jumped 6.01% after the New York Post reported that the maker of Linux software had reached an agreement to sell itself.
Across the Atlantic, European stock markets were lower: France’s CAC 40 shed 0.39%; Germany's DAX fell 0.12%; Britain's FTSE 100 slipped 0.10%; and the EURO STOXX 50 was down 0.34%.
Earlier in the day, official data showed that consumer price inflation in the euro zone declined in line with expectations in August.
During early U.S. trade, the Dow Jones Industrial Average was up 0.21%; the S&P 500 index fell 0.06% and the Nasdaq Composite index gained 0.02%.
Japan's USD 12 billion intervention saw the U.S. dollar appreciate more than 3% against the yen. The move saw risk appetite decrease and weighed on equities and commodities.
Also Wednesday, the U.S. Federal Reserve said that industrial production fell more-than-expected in August while the capacity utilization rate fell unexpectedly in August.
Meanwhile, separate data showed that an index of manufacturing conditions in New York State fell more-than-expected in September, while import prices increased more-than-expected in August, rising for a second consecutive month.
Gains in healthcare and technology stock helped limit losses, with shares in Medco Health Solutions rising 1.47% amid takeover speculation. Meanwhile, shares in software manufactures Novell jumped 6.01% after the New York Post reported that the maker of Linux software had reached an agreement to sell itself.
Across the Atlantic, European stock markets were lower: France’s CAC 40 shed 0.39%; Germany's DAX fell 0.12%; Britain's FTSE 100 slipped 0.10%; and the EURO STOXX 50 was down 0.34%.
Earlier in the day, official data showed that consumer price inflation in the euro zone declined in line with expectations in August.