Markets Are Flat Awaiting Fed Meeting Minutes

Markets Are Flat Awaiting Fed Meeting Minutes Updated: 8/20/2014

At 2pm EST the Federal Reserve will release minutes from its latest monetary-policy meeting. The S&P 500 and Dow Jones Industrial Average have been up for two straight days, while the NASDAQ Composite has had gains for the past five days.

“Markets are giving pause while awaiting the results from the most recent monetary-policy meeting from the Federal Reserve. Heading into today, the NASDAQ Composite has had five straight days of gains,” said David Krein, Head of Research, NASDAQ OMX Global Indexes.

INDEX MOVES THIS WEEK

  • NASDAQ BIOTECHNOLOGY INDEX (NBI) is up 1.63% since Friday’s close. Year-to-date performance for the index is up 18% after being above 20% at the end of February, and down 5% by mid-April. Celgene is up 3.7%, this week.
  • NASDAQ CLEAN EDGE GREEN ENERGY (CELS) was up 2.21% as of noon Wednesday. Some of the index’s largest holdings include Tesla Motors, Linear Technology and First Solar.
  • PHLX Gold/Silver Sector (XAU) was flat with a return of 0.01% as of noon Wednesday. The price of gold is currently $1,293 per ounce, down $12 from last week.

INDEX TO WATCH

  • The NASDAQ Global Buyback Achievers Index is comprised of securities that have effected a net reduction in shares of 5% or more in the past year. The index currently includes 193 securities and some of the larger holdings include Home Depot, Oracle and Airbus Group. The index launched on August 11, 2014, and is up 1.3% this week.

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