US Close 13 Oct 16: A nice rebound for U.S. markets off yesterday’s lows DOW up 16pts.

US sharemarkets were mixed on Wednesday following the FOMC minutes. Investors also waited on earnings results. The odds of a December rate hike are holding at around 70%. 

Telecom equipment maker Ericsson, fell 20% to eight-year lows after issuing a profit warning on a accelerated downturn in its mobile broadband business. Investors sold off the sector with Nokia losing 5.1%. An upbeat broker report on the Italian banking sector helped financial stocks

The US dollar index rose to a seven-month high. A stronger US dollar weighed on exporters, the materials sector and globally-dependent stocks. The Dow Jones index ended higher by almost 16 points or 0.1% with the S&P 500 index higher by 0.1% while the Nasdaq lost almost 8 points or 0.2%.

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