All things considered with the choppy price action, it was a pretty mild mannered day considering there was another 0.25% interest rate hike by the Federal Reserve Bank. Furthermore, Chairman Jerome Powell gave no indication a “Fed pivot” was on his radar.
There were both positives and negatives to the session. The obvious negative is the index declined by 29.25 handles at the closing price of 4007.50. The main positive was the index matched Tuesday’s low and is attempting to rebound in the after-hours session.
Whether that remains for the start of Thursday’s session at 6 PM EST remains to be seen.
Tesla Inc. (NASDAQ: TSLA) was the biggest winner of the top components of the index. The issue was up fractionally ($0.31 or 0.2%) at the closing price of $160.61.
That was better than the cash index’s decline of 0.69%.
Johnson & Johnson (NYSE: JNJ) was the biggest loser of the top components of the index. For the session, the issue declined $2.16 or 1.31% at the closing price of $162.87.