US stocks close Tuesday mixed as investors await Fed signal

By Ovunc Kutlu

ISTANBUL (AA) - Major stock exchange in the US finished Tuesday on a mixed note as investors await any rate cut signal that could come from the Federal Reserve at the end of its two-day meeting that will conclude Wednesday.

The Dow increased 203 points, or 0.5%, to end the day at 40,743.

The S&P 500, on the other hand, lost 27 points, or 0.5%, to 5,436. The Nasdaq dove 222 points, or 1.28%, to close the session at 17,147.

The Fed is widely expected to hold interest rates unchanged on Wednesday, but the central bank could signal a rate cut for September.

The VIX volatility index, also known as the "fear index," jumped 6.6% to 17.69. The 10-year US Treasury yield declined 0.9% to 4.140%.

The dollar index decreased 0.04% to 104.52, while the euro lost 0.06% to $1.0812 against the greenback.

Precious metals were on rise, with gold adding 1.1% to $2,410 per ounce and silver increasing 1.9% to $28.37.

Oil prices were down around 0.6%, with global benchmark Brent crude priced at $78.58 per barrel and US benchmark West Texas Intermediate at $75.34.