Stock market
The S&P 500 closed slightly higher on Wednesday. After the past week, even modest gains are encouraging. Stocks have generally fallen since last week's Fed meeting, when central bankers raised their interest rate forecasts for next year. Investors are also weighing the impact of higher energy prices on inflation and the possibility of a government shutdown. The Fed's rate hikes this year have been an attempt to tame inflation. The S&P 500 closed almost flat. The Nasdaq composite added 0.2%, while the Dow fell 0.2%.
Overseas, the Stoxx Europe 600 index fell 0.2 percent.
Foreign exchange market
The WSJ Dollar index.DXY, + 0.36% was at 100.60.
US Treasury bonds
The yield on the 10-year Treasury note rose to 4.625% from 4.558% Tuesday, its highest level since October 2007.
Commodity market
The dollar surge hit gold prices. On Wednesday, gold futures fell to their lowest in more than six months. Gold futures for December delivery, the most actively traded contract on the New York Mercantile Exchange, fell $28.90, or 1.5%, to settle at $1,890.90 an ounce. It was the lowest closing price since March 10 and the biggest one-day percentage drop since a 1.9% drop on April 14.
West Texas Intermediate for November delivery settled up $3.29, or 3.64 percent, at $93.68 a barrel on the New York Mercantile Exchange, the highest level since August 2022. ICE November Brent crude futures rose $2.59, or 2.76 percent, to $96.55 a barrel, the highest close since November 2022.