US indices end mixed after lower open on Fed tapering signal

By Ovunc Kutlu

ANKARA (AA) - US stocks ended mixed Thursday after opening lower as the Federal Reserve signaled that it will soon begin to taper its monthly asset purchase program.

The Dow Jones Industrial Average was down 66 points, or 0.19%, at 34,894 at the final bell with investment banking firms Morgan Stanley and Goldman Sachs losing over 1.3% each.

The S&P 500 rose 5 points to 4,405, while the tech-heavy Nasdaq added 15, or 0.11%, to 14,541.

Oil majors ExxonMobil and Chevron lost 3% and 2.5%, respectively, while ConocoPhillips fell 2.1% as oil prices have continued their decline by shedding 2.5%.

Brent crude was at $66.53 per barrel and West Texas Intermediate fell to $63.55.

The VIX volatility index, known as the fear index, was up for the fourth straight day, adding 0.46% to 21.67. The dollar index also added 0.46% to 93.56.

The yield on 10-year US Treasury notes, on the other hand, fell 2.3% to 1.243%.

Precious metals were in negative territory as gold fell 0.43% to $1,780 per ounce. Silver lost 1.15% to $23.24.

The Fed minutes released Wednesday showed that officials discussed the $120 billion monthly asset purchase program, and the central bank could begin as early as this year to reduce accumulating new assets on its balance sheet in a process known as tapering.