Fri, 17 Sep 2021

NEW YORK, New York - U.S. stocks were mixed on Wednesday despite a widening of the U.S. trade deficit, offset by the U.S. Federal Reserve leaving interest rates unchanged near zero.

Google's parent Alphabet gained more than four percent after Google advertising soared 69 percent.

"Fed's continued patience is being cheered by the markets," Anu Gaggar, global investment strategist at Commonwealth Financial Network told CNBC Wednesday.

"There was an acknowledgment of continued progress towards the Fed's goals, but there are ways to go before the Fed can be nudged to act."

At the close on Wednesday, the tech-laden Nasdaq Composite was ahead 102.01 points or 0.70 percent at 14,762.58.

The Dow Jones industrials shed 127.72 points or 0.36 [percent to 34,930.80.

The Standard and Poor's 500 slipped 0.80 of a point or 0.02 percent to 4,400.66.

The U.S. dollar gave up ground following the Fed decision. The euro firmed up to 1.1845 approaching the New York close Wednesday. The British pound appreciated to 1.3905. The Japanese yen was little changed at 109.85. The Swiss franc rose to 0.9102.

The Canadian dollar gained to 1.2534. The Australian dollar was marginally stronger at 0.7371. The New Zealand dollar was in demand, with the kiwi rising to 0.6995.

Overseas, in France, the CAC 40 jumped 1.18 percent. The Greman Dax was down 0.24 percent, while the FTSE 100 in London rose 0.29 percent.

On Asian markets, in Hong Kong, the Hang Seng climbed 387.45 points or 1.54 percent to 25,473.88.

Stocks elsewhere in Asia were on the nose. China's Shanghai Composite declined 19.59 points or 0.58 percent to finish at 3,361.59.

The Nikkei 225 in Tokyo shed 388.56 points or 1.39 percent to close at 27,581.66.

The Australian All Ordinaries gave up 54.40 points or 0.71 percent to 7,649.60.

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