US Stocks closed mixed on Wednesday

The US share market finished the session mixed on Wednesday, 13 March 2024, as Treasury yields rose after hotter-than-expected inflation report, with gains in shares of energy, materials, and financial sectors offset by losses in technology, realty, and utilities counters.

At closing bell, the Dow Jones Industrial Average index was up 37.83 points, or 0.1%, to 39,043.32. The S&P500 index fell 9.96 points, or 0.19%, to 5,165.31. The tech-heavy Nasdaq Composite index dropped 87.87 points, or 0.54%, to 16,177.77.

Total 7 of the 11 major S&P 500 sectors inclined, with energy sector being top performer, rising 1.52%, while information technology sector was bottom performer, falling 1.08%.

The yield on the benchmark 10-year Treasury advanced to 4.19%, about 9 basis points higher than it was before yesterday's CPI. The 2-year yield, at 4.64%, has risen about 10 points.

3M shares climbed 5.4% after providing better-than-expected first-quarter earnings guidance and after it named a new CEO.

Chevron shares rose 1.4%, following oil prices higher after data showed U.S. crude oil stocks fell by 1.5 million barrels in the week ending March 8.

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