US equities are mostly lower, as economic data point to growth in early spring, with a slight rise in inflation

The session listed the public list of the Coinbase Global COIN cryptographic exchange,
+ 32.78%.

How are stock comparisons traded?

• The Dow Jones Industrial Average DJIA,
  + 0.32%
  increased 85 points, 0.3%, to 33,763, after surpassing the intraday record of 33,911.25.

• S&P 500 SPX,
  -0.23%
  it fell 14 points, or 0.3%, to 4,127, after changing negatively

• Nasdaq Composite COMP,
  -0.74%
  slipped 126 points, 0.9%, to 13,869.

• The Russell 2000 RUT,
  + 0.76%
  rose 1.2%.

On Tuesday, the Dow DJIA,
+ 0.32%
fell 68.13 points to finish at 33,677.27, a decline of 0.2%. The S&P 500 SPX,
-0.23%
it rose 13.60 points, closing 0.3%, to a record 4,141.59, its 21st of the year. The Nasdaq Composite Index COMP,
-0.74%
it rose 146.10 points, or 1.1%, and finished at 13,996.10, just 0.71% since the record close on Feb. 12. The Nasdaq-100 NDX Index,
-1.05%
he also finished on a record on Tuesday.

What is driving the market?

Shares are mostly down on Wednesday after the Federal Reserve’s economic activity survey on Beige Book points to a “moderate pace” of accelerating U.S. economic activity to start the year, but also a slight rise in inflation.

The Beige Book survey also noted that advances on the vaccination front provided a boost to the outlook for the economy.

The report comes as investors analyzed first-quarter JPMorgan Chase JPM results,
-1.90%,
Goldman Sachs Group GS,
+ 2.97%
and Wells Fargo & Co. WFC,
+ 5.49%
Wednesday to assess what could mean an increase in profits at several of the nation’s financial power plants for the economic downturn.

The three major US financial institutions revealed an increase in profits and a reduction in reserves, or amortizing banks for potential losses from agricultural loans. The SPDR XLF Sector Select Financial Fund,
+ 0.76%,
which tracks the performance of US banks, increased 0.9%.

“We have a taste of what’s to come,” said Yung-Yu Ma, chief investment strategist at BMO Wealth Management, which increased profits and profits for large banks. “We believe this continues to benefit banks and it’s something we believe will probably last the rest of this year.”

Ma also believes that there is a big economic boost behind the gains in the broader corporate landscape, but it will be closely tuned in when analysts ask for clues as to “which companies have price power”.

“It will be uneven across the economy,” he told MarketWatch.

Wednesday also highlights the direct listing of Coinbase, the largest cryptocurrency exchange in the United States, on the Nasdaq. Shares opened at $ 381, before approaching $ 311.

“I knew Coinbase would be a big event,” said Anthony Denier, CEO of Webull, a popular trading platform among individual investors. “But I think everyone is surprised at how he takes care of himself [the focus] of the market, “he said.” Currently, my clients are fully focused on Coinbase, with a retail brokerage. “

And while banking stocks have not been a focus among its operators for some time, Denier said the first quarterly results signal a “festive moment” for large banks, thanks to rising IPOs, SPACs and other capital market activities during the pandemic.

“The first quarter is a story about great expectations. So far, companies are offering an aggregate total here, ”Michael Reynolds, an investment strategy officer at Glenmede Trust, told MarketWatch, though he warned that only a few companies had reported.

Meanwhile, Federal Reserve Chairman Jerome Powell suggested Wednesday that the Fed would follow the same game book it developed in 2013 and 2014 once it decided to reverse its asset purchase program, which means that the reduction in asset purchases would come “long before” any interest rate. increase, during a speech at the Washington Economic Club.

Brett Ewing, chief market strategist at First Franklin Financial Services, said Market Powell’s overall message was still to expect the Fed’s easy monetary policies to stay in place for a while.

“But I think the markets will trade in rate hikes before the Fed talks,” he told MarketWatch.

In other economic data, the U.S. import price index rose 1.2% in March and 0.8% set aside fuel prices. Economists polled by Dow Jones and the Wall Street Journal had forecast a 0.9% increase.

Which companies are concentrated?

• Coinbase Global
  CURRENCY,
  + 32.78%,
  One of the first cryptocurrency exchanges to go public saw shares appear and fall in their debut on Wednesday, with a brief high loan to the exchange worth more than $ 100 billion.

• Actions of JPMorgan Chase & Co.. it fell 1.6% on Wednesday, after CEO Jamie Dimon noted that loan demand would continue to be “challenged,” even as the banking giant reported first-quarter earnings and revenue that exceeded expectations.

• Dollar General Corp.. DG said on Wednesday that it aims to hire up to 20,000 people in face-to-face and virtual recruitment events that the discount retailer will host from 19 to 23 April.

• Jack in the Box Inc. JACK disclosed Wednesday that it will “separate” from Andrew Martin, who has been the head of information for the fast food chain since November 2016, starting May 7th.

• Actions of Goldman Sachs Group Inc. rose 3% on Wednesday after the bank and brokerage firm reported record earnings and earnings that exceeded expectations.

• Wells Fargo & Co.
  WFC,
  + 5.49%
  it recorded stronger-than-expected earnings and revenue during the first quarter, driven by the release of $ 1.6 billion of its reserves for credit losses. Shares of Wells Fargo rose 5.4%.

• Bed Bath & Beyond Inc.
  BBBY,
  -11.62%
  shares fell 10.4% after the household goods retailer reported fourth-quarter earnings that exceeded expectations, but fell short in sales.

How are the other assets?

• The ICE Index US Dollar DXY,
  -0.18%,
  a measure of the currency against a basket of six main rivals fell 0.2%.

• US crude for May delivery CL.1,
  + 4.45%
  rose 4.9% to a 4-week high of $ 63.15 a barrel on the New York Mercantile Exchange.

• The 10-year Treasury note generates TMUBMUSD10Y,
  1,632%
  rose one basis point to 1.63%. Bond prices move inversely toward yields.

• Gold futures ended lower, with the June GCM21 contract,
  -0.58%
  falling 0.7% to $ 1,736.30 an ounce.

• In Europe, the Stoxx 600 SXXP index rose 0.2%, while the London FTSE 100 UKX added 0.7%.

• In Asia, the Shanghai Composite SHCOMP gained 0.6%, Hong Kong’s Hang Seng HSI closed 1.4% and Japan’s Nikkei 225 NIK fell 0.4%.

Mark DeCambre reports