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Informist, Wednesday, Jul. 8, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: US indices close lower ahead of FOMC minutes

 

MUMBAI--0702 IST--US markets closed lower Tuesday as investors pulled out of AI-linked stocks after sentiment was affected by the rise in oil prices. The Dow Jones Industrial Average and the S&P 500 fell marginally. The Nasdaq Composite fell 1.2%, with chipmakers leading the decline.

 

Oil prices rose after the US launched strikes on Iran in retaliation for attacks on ships travelling through the Strait of Hormuz. Brent crude September futures rose to $75.78 a barrel, up more than 2%. The US also revoked the licence that permitted Iran to sell its oil internationally. US stock futures were near flat as investors weighed on rising tensions in the West Asia and surging oil prices.

 

Investors await the minutes of the Federal Open Market Committee's last meeting, due late Wednesday. The minutes will provide clarity into Federal Reserve Chairman Kevin Warsh's first policy meeting, which left interest rates unchanged while signalling these could be hiked if inflation remains high. 

 

"The FOMC minutes will be [a] wildcard simply because Warsh was so opaque at the most recent press conference," Adam Crisafulli, founder of Vital Knowledge, said in a note as per a CNBC report. "Normally, [Jerome] Powell provided fairly comprehensive accounting of the meeting discussion, but that didn't happen with Warsh, so the minutes, which are likely to be hawkish in tone, could contain some surprises." 

 

Following were the closing levels of major US indices Tuesday:

 

Index	Level	Change in %
Dow Jones Industrial Average	52925.15	(-)0.25
NASDAQ Composite	25818.69	(-)1.16
S&P 500	7503.85	(-)0.45

 

(Deesha Jadhav)

 

US$1 = INR 94.96

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Akul Nishant Akhoury

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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