Stocks Lower as Fed Takes Slightly Hawkish Tone: Markets Wrap
- West Texas Intermeditate crude surges to highest since 2014
- Treasuries rise, Fed considers faster tightening schedule
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U.S. stocks turned mostly lower and Treasuries rose after minutes from the most recent Federal Reserve meeting showed that officials are leaning toward a slightly faster pace of tightening. Oil rose to the highest level since 2014 amid escalating tensions in the Middle East and political dissonance in Washington.
The S&P 500 Index retreated from earlier gains as investors digested the minutes from the Fed’s most recent meeting and grappled with President Donald Trump’s provocative comments about Russia and his warning that America’s preparing to attack Syria. The small-cap Russell 2000 Index rose, as those companies tend to have less international exposure than larger businesses. Gold futures climbed for a fourth straight day.