US Stocks Waver

US stocks swung between gains and losses on Wednesday as uncertainty around the path of Federal Reserve rate hikes and further discussion of a looming recession kept investors on edge.

The chief executives of America's biggest companies, including JPMorgan Chase CEO Jamie Dimon, are feeling increasingly sour about the health of the world's largest economy as it deals with the twin shocks of inflation and rising interest rates.

This narrative that the Federal Reserve's aggressive tightening will drag the US economy into a recession in 2023 has countered some optimism around China's reopening.

Meanwhile, Labor Department data showed that productivity in the last quarter was better than initially expected, while unit labor costs were considerably less.

On the corporate side, MongoDB jumped 25% on better-than-expected third-quarter revenue and upbeat fourth-quarter guidance.