U.S. stocks are edging down after Federal Reserve minutes revealed reluctance to raise interest rates, sparking a rally Wednesday afternoon. The S&P 500 is down 0.22% while the Dow is down 0.29%.Initial claims level held at 287,000 for the week ending October 4 matching the 287,000 from the prior week.
Reacting to the cautious tone of the Fed minutes, Asian indices were mixed Thursday. The Nikkei was down 0.76% and the Shanghai Composite rose 0.28%.
In Europe, markets are also mixed in response to the Federal Reserve stance. The FTSE is down 0.28%, and the DAX is up 0.18%.
Energy futures are falling this morning. West Texas Intermediate crude oil is $87.15 per barrel, down $0.16 and natural gas is down $0.02. Metals prices are moving up today . Gold is up $24.80 and platinum is up $26.00. The Dollar is down against both the Euro and the Yen.
United States Steel Corp(X), Auxilium Pharmaceuticals Inc.(AUXL) and Boise Cascade Company (BCC), are headed up. The Gap, Inc. (GPS), Alcatel-Lucent (ALU) and Advanced Micro Devices, Inc. (AMD)are down.
Michael Haden is an Options Analyst at InvestorsObserver. He graduated from James Madison University in 1986 with a degree in Marketing. In two decades with Standard & Poor’s, Michael honed his analytical skills in the Financial Industry. He has a conservative view toward investing and prefers value stocks to high-fliers with big risk..