“The Fed minutes yesterday were a bit hawkish and they said ongoing rate hikes would be necessary and that should obviously be negative for the market,” said Sandy Villere, portfolio manager at Villere & Co. in New Orleans.
On Wall Street, the Nasdaq regained earlier losses from better-than-expected revenue at chipmaker Nvidia. The results drove the company’s shares up 14%, along with shares of other semiconductor manufacturers. Oil prices firmed more than 1% before paring some gains, with Russian supply curbs partially offsetting an expected rise in US inventories.
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