Shares hover near record highs, crude prices gain

By chibuke oguh

New York (Reuters) -Global shares were hosted near record levels on Wednesday with a decline in the tensions of the Middle East, as the markets focused on American inflation and the prospects for reducing the interest rate. Raw prices rose after picking up three consecutive sessions of losses.

The S& P 500 normative index ended without a change and a record number reached on February 19. The gains in the shares of technology and communication services have been compensated by real estate losses, consumer and facilities. Dow lost the Earth, but Nasdak gained.

The Dow Jones Industrial average decreased by 0.25 % to 42,982.43, the S&P 500 was flat at 6,092.16, and the NASDAQ compound increased by 0.31 % to 1973.55.

European stocks fell 0.74 %.

The broadest MSCI of Asia Pacific shares outside Japan has finished 0.96 % overnight. The MSCI scale of stocks all over the world decreased by 0.02 % to 902.84, after achieving a record earlier in the session.

The ceasefire between Israel and Iran seems to be carrying, which reduces the risks of turmoil towards the global oil trade. At the NATO Summit on Wednesday, president Donald Trump praised the 12 -day rapid end of the conflict, saying that the talks next week will require a commitment to Iran to end its nuclear ambitions.

The President of the Federal Reserve, Jerome Powell, resumed two days of congress on Wednesday, as he appeared before the Senate Banking Committee after checking before the House of Representatives on Tuesday.

“It seems that we have a little war of war in relation to everything in the Middle East to how this affects inflation, and then got a little oil prices,” said Sandy Felieri, Velry & Co wallet director in New Orleans.

“It will be interesting if the oil becomes weaker and inflation remains in the Gulf, then you all turn to what Powell says. It seems that the market is very flexible.”

Raw future contracts

Brent crude futures stabilized by 0.8 % to $ 67.68 a barrel, while the United States of West in Texas Intermediate (WTI) settled by 0.9 % to $ 64.92, both of which belong to some 13 % losses made earlier in the week. Prices rose to their highest levels five months after the United States attacking Iranian nuclear facilities during the weekend.

Powell told the Senate Committee that the Trump administration tariff plans may cause just one -time jump in prices, but the risk of the most stable inflation is large enough so that the central bank is cautious in looking at the advantage of price cuts.

The return on the standard centers of the United States decreased for 10 years, a basis point to 4.283 %, reflecting the previous gains.