US stocks ended in mixed territory on Wednesday as the tech-heavy Nasdaq was dragged down by bleak Netflix earnings, while bond yields dipped after a recent strong run.
The Dow Jones Industrial Average ended higher for the second straight day, the S&P 500 was flat, and the Nasdaq Composite fell sharply after Netflix reported it had lost subscribers for the first time in over a decade, casting gloom over the tech sector.The MSCI all-country stock index was up 0.28% firmer.Benchmark 10-year yields were last at 2.8436%, after reaching 2.981% overnight, the highest since December 2018.
The Fed is expected to continue to roll out rate hikes at upcoming meetings in its bid to get a grasp on spiking inflation as several officials have struck a more hawkish tone. On top of this, in virtually all previous hiking cycles, inflation started at much lower levels than in this one,” wrote Deutsche Bank analysts in a note.
The dollar index, which tracks the greenback versus a basket of six currencies, was down 0.64% to 100.311.
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