The major averages reversed course, closing mixed as the Federal Reserve left rates unchanged and made no signal of a cut in the near future. The Dow Jones Industrial Average fell 171 points, or 0.38% to close at 44,461. The S&P 500 fell 7 points while the Nasdaq rose 31 points.

Treasury yields rose after the Fed left rates unchanged. The 10-year Treasury yield rose 4 basis points to 4.37%. The 2-year yield rose 6 basis points to 3.94% while the 30-year bond yield added 3 basis points to 4.89%. Fed Chairman, Powell did not budge on rates following its July meeting. Powell said that the central bank has “made no decisions” about a potential policy change in September.

It was the second day of losses for the broad index following a streak of six record closes for the S&P 500. A few diamonds in the tech space on an upgrade for Nvidia today and AMD yesterday.

Healthcare and HMOs had a good day after a disastrous week. Humana rose 12% on earnings while UnitedHealth rebounded nearly 2% after a sharp drop earlier in the week.

Oil stocks were lower even as oil rebounded a percent on Russian tensions. Gold fell after the Fed left rates unchanged. Bitcoin was basically unchanged.  

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