Equity Markets Higher After FOMC Minutes Show Divided Opinion on Rate Cuts

03:39 PM EDT, 07/09/2025 (MT Newswires) -- US benchmark equity indexes are on track to close higher on Wednesday after minutes of the Federal Reserve's latest monetary policy meeting show varying opinions on rate cuts.

The Dow Jones Industrial Average was up 0.4% at 44,426.34, while the Nasdaq Composite increased 0.9% to 20,591.27. The S&P gained 0.5% to 6,257.54. Among sectors, utilities led the gainers while consumer staples had the steepest decline.

AES (AES) shares were up 19%, the top performer on S&P 500. The company is exploring options, including a potential sale, according to a Bloomberg report.

Enphase Energy (ENPH) shares were up 5.5%, even after Goldman Sachs downgraded its rating to sell from buy and reduced the price target to $32 from $77.

Fair Isaac (FICO) shares were down 5.7%, the worst performer on S&P, after Jefferies, Barclays and Wells Fargo revised price targets downwards.

The 10-year US Treasury yield was down 6.9 basis points to 4.34%, while the two-year rate decreased 3.7 basis points to 3.87%.

August West Texas Intermediate crude oil decreased 0.1% to $68.29 a barrel.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.