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Market Wrap: Investors skittish ahead of Fed meeting

It was another topsy-turvy day for local investors ahead of the US Federal Reserve’s meeting tonight, with the share market ultimately ending slightly higher.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.1% to 5116 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.1% to 5175 points
  • AUD/USD at US 74.55 cents
  • Iron Ore at US$52.88 a tonne, according to the Metal Bulletin
  • Gold at US$1,232.15 an ounce
  • Brent oil at US$39.10 a barrel

Another down night for commodity prices all but ensured another cautious day on the market today, although gains from the banks went a way towards offsetting the losses among the miners.

BHP Billiton Limited (ASX: BHP) was on the chopping block again, losing 1.5%, while Fortescue Metals Group Limited (ASX: FMG) and Santos Ltd (ASX: STO) also shed 4.3% and 1.6%.

The gold producers traded mostly higher. EVOLUTION FPO (ASX: EVN), for instance, rose 1.7%, while Northern Star Resources Ltd (ASX: NST) gained 4%.

National Australia Bank Ltd. (ASX: NAB) was the best of the banks, rising 1%, with all four of the majors ending the day higher.

WHITEHAVEN COAL LIMITED (ASX: WHC) was one of the best shares for the day, lifting 10.2%, but Slater & Gordon Limited (ASX: SGH) shares tumbled another 3.3%.

Here are Wednesday’s top stories:

  1. 2 tech stars you’ll never want to sell
  2. Here’s why Bellamy’s Australia Ltd shares could be worth a closer look
  3. Why is the Regis Healthcare share price down in the past 6 months?
  4. Brokers think this under-the-radar small-cap could offer blockbuster returns
  5. Here’s why the BHP Billiton share price has sunk 14%
  6. Top broker names financial services giant as hot buy

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Motley Fool contributor Ryan Newman owns shares of Bellamy's Australia. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest.

The Motley Fool Australia owns shares of Bellamy's Australia. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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