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U.S. stocks open mixed amid data, Fed speakers' remarks

Xinhua, November 16, 2016 Adjust font size:

U.S. stocks opened mixed on Wednesday, as investors mainly focused on newly-released data and remarks from U.S. Federal Reserve officials.

On the economic front, the Producer Price Index (PPI) for final demand was unchanged in October, seasonally adjusted, worse than market consensus of a 0.3-percent increase, the U.S. Labor Department reported Wednesday.

U.S. industrial production was unchanged in October after decreasing 0.2 percent in September, announced the Federal Reserve.

Meanwhile, investors shifted their focus to the timing of a next interest rate hike. According to the CME Group's FedWatch tool, market expectations for a December rate hike were 90.6 percent.

Earlier on Wednesday, St. Louis Fed President James Bullard said he would be surprised if the central bank did not raise rates next month, according to the CNBC.

Boston Fed President Eric Rosengren said Tuesday the central bank won't be easily swayed from a December rate hike.

Shortly after the Wednesday's opening bell, the Dow Jones Industrial Average shed 53.34 points, or 0.28 percent, to 18,869.72. The S&P 500 lost 3.13 points, or 0.14 percent, to 2,177.26. The Nasdaq Composite Index gained 4.03 points, or 0.08 percent, to 5,279.65. Endi