US Equities Markets End Mixed Wednesday as Investors Review OPEC Outlook, Fed Official's Remarks

MT Newswires Live
05/15

US benchmark equity indexes ended mixed Wednesday as traders analyzed the Organization of the Petroleum Exporting Countries' latest monthly report and comments by a Federal Reserve official.

* OPEC maintained its global oil demand projections for 2025 and 2026 but reduced its world and US economic growth forecasts for this year.

* "Trade-related uncertainties have continued to weigh on the outlook for the US economy, particularly through their impact on consumer confidence and inflationary pressures," the group said. "While no definitive resolution to the ongoing trade disputes has been reached, the overall trajectory continues to point toward gradual de-escalation, as seen with China and the UK."

* Fed Vice Chair Philip Jefferson said monetary policymakers are facing "a challenge" due to an uncertain economic outlook.

* There is "much uncertainty" around the future trajectory of inflation, Jefferson said. "If the increases in tariffs announced so far are sustained, they are likely to interrupt progress on disinflation and generate at least a temporary rise in inflation."

* June West Texas Intermediate crude oil closed down $0.80 to settle at $62.87 a barrel, while July Brent crude, the global benchmark, was last seen down $0.85 to $65.78 following a report showing U.S. inventories unexpectedly rose last week, heightening concerns the market is becoming oversupplied.

* Super Micro Computer (SMCI) shares rose 16%. The manufacturer of artificial-intelligence servers and Saudi Arabian data center company DataVolt signed a multiyear partnership deal valued at $20 billion.

* American Eagle Outfitters (AEO) shares fell 6.5%, a day after company forecast a fiscal Q1 operating loss amid inventory charges on spring and summer merchandise and withdrew its full-year outlook due to macro uncertainties.

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