US stocks close mixed ahead of Fed decision

By Ovunc Kutlu

ISTANBUL (AA) - Major stock exchanges in the US closed mixed Tuesday, a day before the Federal Reserve's first monetary decision of 2024.

The Dow Jones Industrial Average jumped 133 points, or 0.35%, to finish the day at 38,467.

The S&P 500, on the other hand, shed almost three points, or 0.06%, to 4,924. The tech-heavy Nasdaq, meanwhile, fell 118 points, or 0.76%, to 15,509.

The Fed is widely expected not to change its benchmark interest rate Wednesday, but all eyes will be on Chair Jerome Powell’s post-meeting press conference, as investors will focus on any hints about the direction of interest rates in the coming months.

The VIX volatility index, also known as the fear index, lost 2% to 13.31. The 10-year US Treasury yield shed 1.3% to 4.039%.

The dollar index decreased 0.2% to 103.43, while the euro added 0.1% to $1.0844 against the greenback.

Precious metals were mixed, with gold adding 0.15% to $2,036 per ounce but silver decreasing 0.2% to $23.14.

Oil prices were in positive territory, with global benchmark Brent crude adding 0.7% to $82.40 per barrel and US benchmark West Texas Intermediate crude increasing 1.3% to $77.78 a barrel.