Wall Street flat ahead of holiday; ISPs rise on net neutrality bets
U.S. stocks were little changed on Wednesday, with telecom services shares among the biggest movers while the energy sector rose in line with gains in crude oil.
These stocks are up "given the end is in sight for net neutrality as it had been defined in 2015," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.
"They would be allowed to charge the originators of the data to more accurately reflect the speed and the volume of data."
With three Republican and two Democratic commissioners, the Federal Communications Commission is all but certain to approve the change.
Hewlett Packard Enterprise
The Dow Jones Industrial Average <.dji> fell 64.65 points, or 0.27 percent, to 23,526.18, the S&P 500 <.spx> lost 1.95 points, or 0.08 percent, to 2,597.08 and the Nasdaq Composite <.ixic> added 4.88 points, or 0.07 percent, to 6,867.36.
The S&P 500 energy index <.spny> rose 0.4 percent as U.S. crude
Many Federal Reserve policymakers expect interest rates to be raised in the "near term," according to the minutes of the U.S. central bank`s most recent policy meeting released on Wednesday. Stock investors were not surprised by the minutes and the market barely moved after their release.
"Not a lot of revelations came through in the Fed minutes," said John Velis, vice president of Global Macro Strategy at State Street Global Markets in Boston.
"Seems everyone is packed up."
Trading volumes were thin ahead of the Thanksgiving holiday on Thursday and an early close on Friday. About 5.18 billion shares changed hands in U.S. exchanges, compared with the 6.66 billion daily average over the last 20 sessions. Last year, volume during the session before Thanksgiving was 6.51 billion.
Shares of chipmaker Qualcomm
Tractor maker Deere & Co
Advancing issues outnumbered declining ones on the NYSE by a 1.30-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored advancers.
The S&P 500 posted 25 new 52-week highs and no new lows; the Nasdaq Composite recorded 151 new highs and 20 new lows.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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