"S&P 500 down 0.02% at 1837.49. DJIA down 0.4% at 16462.74. Nasdaq Comp up 0.3% at 4165.61. Treasury yields up; 10-year at 2.991%. Nymex crude oil down 1.4% at $92.33. Gold down 0.3% at $1,225.30/ounce.
In a bit of the good-news-is-bad-news trade, stocks fell on Wednesday after ADP’s better-than-expected report on private-sector job growth. Maybe traders started thinking an improving U.S. economy would prod the Fed to accelerate the pace of its QE3 wind-down (what most people call the taper).
The minutes of the Fed’s December meeting showed the bank’s officials were mainly in favor of tapering, but had some reservations. That probably means the Fed will move very slowly in ending the program. But they are moving, leaving Asia to deal with the shifting tides of global capital flows".
Source: WSJ
