US stocks turned up – Business World

The courses on Wall Street rebounded the initial declines and closed Wednesday’s trading in positive territory with the support of including strong ISM data. Otherwise targeted investors focus on the minutes of the Federal Reserve’s last meeting in June.

“The most important thing we take with us from the minutes is that the uncertainty of the Fed has increased which is understandable given the weak employment data for May and the British referendum, “said Jon Adams at BMO Asset Management to Bloomberg.

Large companies index Dow Jones Industrial Average was at closing up 0.4 percent to 17,919. The broader index S & amp; P 500 was up 0.5 percent to 2,100, while the technology-heavy Nasdaq Composite was up 0.8 percent to 4,859.

The ISM index for the services sector in the US was 56.5 in June , compared with unrevised 52.9 in the previous month. The outcome was higher than market expectations, which was at 53.3.

Members of the US central bank considered at the last meeting, June 14 to 15, it is appropriate to raise interest rates when economic growth picks up . The minutes from the June meeting of the central bank’s Monetary Policy Committee FOMC.

At the meeting, the Committee noted some concerns about the health of the labor market, prospects for economic growth, economic risks and underlying inflation develops. Therefore, the Committee considered it to be “wise” to wait for a raise to see how the incoming data is developed before deciding on future actions, writes Dow Jones.

From the minutes also showed, that the members stressed the importance of caution regarding the consequences of the EU referendum in

Britain, which at the meeting time had not yet taken Half.

in bolagsväg, the French pharmaceutical company Sanofi raised its bid for US sector colleague Medivation. Medivations board writes in a press release that it unanimously rejects the offer but agrees to enter into confidential discussions with the bidder.

Medivation has also entered into confidential talks with “other parties”, which is not named. Pfizer and Celgene are already among the other companies that initiated confidential discussions to acquire Medivation. Shares were up 0.9 percent.

The gold price continued to strengthen during the day giving support to companies in the sector which includes Newmont Mining rose 2.6 percent.

The airlines United and Continental American Airlines dropped 2.5 and 2.0 percent after Credit Suisse lowered its recommendation for the companies.

Even Netflix backed by a lowered recommendation from Jefferies. The share closed 3.4 percent lower.

Nortek rushed 38.5 percent after the British Melrose Industries announced the acquisition of the company. The purchase price amounts to 1.44 billion dollars in cash.