On Wednesday, October 9th, the U.S. markets closed higher, driven by Federal Reserve meeting minutes showing a “substantial majority” supported a half-point rate cut, easing investor concerns. Traders also anticipated key inflation data and the upcoming third-quarter earnings season.

Tech stocks saw mixed movements, with Google parent Alphabet down 1.5% amid antitrust concerns.

Related: Fed Minutes Reveal Heated Debate Over September Interest Rate Move: Traders Trim November Easing Bets

In economic data, U.S. wholesale inventories rose 0.1% month-over-month to $904.8 billion in August, below the preliminary 0.2% estimate and matching the revised 0.2% increase from the previous month.

The S&P 500 closed mostly higher, led by gains in healthcare, information technology, and industrials, while utilities and communication services ended lower.

The Dow Jones Industrial Average was up 1.03% and closed at 42,512.00. The S&P 500 ended the day higher by 0.71% at 5,792.04, and the Nasdaq Composite rose 0.60%, finishing the session at 18,291.62.     

Asian Markets Today

Eurozone at 05:45 AM ET

• The European STOXX 50 index was down 0.24%.
• Germany’s DAX declined 0.19%.
• France’s CAC fell 0.23%.
• U.K.’s FTSE 100 index traded lower by 0.08%.

Commodities at 05:45 AM ET

US Futures at 05:45 AM ET

Dow futures were down 0.10%, S&P 500 futures fell 0.14%, and Nasdaq 100 Futures declined 0.17%.

Forex at 05:45 AM ET

• The U.S. dollar index slid 0.02% to 102.90, the USD/JPY was down 0.25% to 148.91, and the USD/AUD fell 0.07% to 1.4874.
• The U.S. dollar held near a seven-week high as traders awaited key U.S. inflation data. The yen slipped as markets remain skeptical about further rate hikes from the Bank of Japan.

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