The S&P 500 hit a record on Wednesday, the 18th of the year, but trade action was otherwise sparse, as the minutes of the last Federal Reserve political meeting seemed to reaffirm commitment to a regime of lower rates as the labor market affected by COVID recovers. . The S&P 500 SPX Index,
closed 0.2% around 4,079, on a preliminary basis. The Dow Jones Industrial Average DJIA,
ended with less than 0.1% around 33,446, marking its third gain in four sessions, while the Nasdaq Composite Index COMP,
bordered less than 0.1% lower to reach 13,669. “While generally acknowledging that the medium-term outlook for real GDP growth and employment had improved, participants continued to see that the uncertainty surrounding these prospects was high,” the minutes of the 16th meeting read. on March 17 from the Fed. The central bank said its “current guidance on the federal funds rate and asset purchase served the economy well.” Fed members’ projections indicate that policymakers will not seek to normalize rates until at least 2023, but market segments have retreated against the notion, amid fears that inflation will rise as the economy improves.