AGL 38.02 Increased By ▲ 0.08 (0.21%)
AIRLINK 197.36 Increased By ▲ 3.45 (1.78%)
BOP 9.54 Increased By ▲ 0.22 (2.36%)
CNERGY 5.91 Increased By ▲ 0.07 (1.2%)
DCL 8.82 Increased By ▲ 0.14 (1.61%)
DFML 35.74 Decreased By ▼ -0.72 (-1.97%)
DGKC 96.86 Increased By ▲ 4.32 (4.67%)
FCCL 35.25 Increased By ▲ 1.28 (3.77%)
FFBL 88.94 Increased By ▲ 6.64 (8.07%)
FFL 13.17 Increased By ▲ 0.42 (3.29%)
HUBC 127.55 Increased By ▲ 6.94 (5.75%)
HUMNL 13.50 Decreased By ▼ -0.10 (-0.74%)
KEL 5.32 Increased By ▲ 0.10 (1.92%)
KOSM 7.00 Increased By ▲ 0.48 (7.36%)
MLCF 44.70 Increased By ▲ 2.59 (6.15%)
NBP 61.42 Increased By ▲ 1.61 (2.69%)
OGDC 214.67 Increased By ▲ 3.50 (1.66%)
PAEL 38.79 Increased By ▲ 1.21 (3.22%)
PIBTL 8.25 Increased By ▲ 0.18 (2.23%)
PPL 193.08 Increased By ▲ 2.76 (1.45%)
PRL 38.66 Increased By ▲ 0.49 (1.28%)
PTC 25.80 Increased By ▲ 2.35 (10.02%)
SEARL 103.60 Increased By ▲ 5.66 (5.78%)
TELE 8.30 Increased By ▲ 0.08 (0.97%)
TOMCL 35.00 Decreased By ▼ -0.03 (-0.09%)
TPLP 13.30 Decreased By ▼ -0.25 (-1.85%)
TREET 22.16 Decreased By ▼ -0.57 (-2.51%)
TRG 55.59 Increased By ▲ 2.72 (5.14%)
UNITY 32.97 Increased By ▲ 0.01 (0.03%)
WTL 1.60 Increased By ▲ 0.08 (5.26%)
BR100 11,727 Increased By 342.7 (3.01%)
BR30 36,377 Increased By 1165.1 (3.31%)
KSE100 109,513 Increased By 3238.2 (3.05%)
KSE30 34,513 Increased By 1160.1 (3.48%)

NEW YORK: US stocks were mixed in early trading Wednesday as traders awaited the minutes of the latest Federal Reserve meeting that could signal when the central bank is likely to hike interest rates.

Before markets opened, payroll services firm ADP reported a surge in private sector hiring in December with 807,000 jobs added, which may signal robust hiring in the Labor Department's official employment report Friday.

However, traders have grown wary of the Fed, which has indicated it may hike rates repeatedly next year to curb inflation, potentially dampening the US stock rally enjoyed throughout the Covid-19 pandemic, even as the Omicron variant threatens growth.

The Fed on Wednesday will release the minutes from last month's policy meeting, which could shed light on central bankers' thinking.

"I think the market is just going to play it cautious most of the session, waiting for the Fed minutes," said Peter Cardillo of Spartan Capital Securities.

US stocks begin 2022 on positive note

"Investors now are not worrying over the Omicron (strain) but basically looking forward at the Fed's moves and a strong economy with elevated inflation."

About 25 minutes into trading, the benchmark Dow Jones Industrial Average was on the positive side of flat at 36,810.42, a few points higher than its record close Tuesday.

The tech-rich Nasdaq Composite Index was down 0.4 percent at 15,563.36, while the broad-based S&P 500 fell 0.1 percent to 4,789.20.

Boeing gained two percent after low-cost airline Allegiant Air announced it would buy 50 of its 737 MAX jets and options for another 50.

Comments

Comments are closed.