Economy

Global stocks, dollar rise as investors turn eyes to Fed

Global stocks, dollar rise as investors turn eyes to Fed”

Wall Street finished mixed on Monday as worries about North Korea receded with investors looking ahead to the latest policy announcement from the Federal Reserve on Wednesday.

In the USA stock market, the Dow Jones Industrial Average rose 83.38 points, or 0.37 percent, to 22,351.72, the S&P 500 gained 3.96 points, or 0.16 percent, to 2,504.19 and the Nasdaq Composite added 5.37 points, or 0.08 percent, to 6,453.84. In 3.06pm trading, the Standard & Poor's 500 Index advanced 0.1 percent. Contributions of 200 words or more will be considered for publication.

Stocks continued to grind higher, sending both the S&P 500 and the Dow to new all-time highs, while the Nasdaq touched a new intraday high but failed to notch a new record close following a late selloff in tech stocks (-0.3%).

A relatively quiet North Korea and U.S. Secretary of State Rex Tillerson's comments on a "peaceful solution" over the weekend eased some concerns for investors.

"The increasingly positive market sentiment remains on track as the Federal Reserve begins its two- day meeting today".

It is widely expected that the central bank won't raise interest rates in the meeting, but investors are expecting the Fed to announce the unwinding of its 4.5-trillion-U.S. -dollar balance sheet.

"There's momentum in the market. That continues to lead to money flowing into the market nearly in an indiscriminate fashion", said Stephen Massocca, senior vice president at Wedbush Securities in San Francisco.

USA government bond yields jumped a hefty 14 basis points last week, but were little changed on Monday, as were most developed bond markets.

Benchmark 10-year Treasury notes were last down 7/32 in price to yield 2.226 percent.

West Texas Intermediate crude futures for October were seen 0.2% higher at $50.18 by 10:15 London time while Brent contracts for November, the benchmark for global prices, were marked 0.27% lower at $55.62.

Shares of Amazon.com (AMZN.O) were down 1.3 percent. The Nasdaq Composite Index was up 6.17 points, or 0.10 percent, to 6,454.64. Gold hit a 2-1/2 week low, with spot gold down 0.6 percent at $1,311.51 an ounce.

U.S. crude prices weakened overnight, partly as a result of a U.S. Energy Information Administration statement that October shale production is likely to rise to around 6.1 million barrels per day, before rebounding during European hours past $50 a barrel.



Like this

Latest


19 September 2017
Here's A New Trailer For Wolfenstein II
She'll help traditional protagonist BJ Blazkowicz restore that fighting spirit and foment a new American revolution. They've walled off New Orleans and are systematically purging the city, burning people and homes to the ground.

19 September 2017
This pension fund is now worth $1 trillion
With stakes in almost 9,000 companies, it owns 1.3 percent of the world's market capitalisation, and 2.3 percent in Europe. For Norway's population of 5,2 million, the fund will secure pensions for generations to come.

19 September 2017
Canadians impacted by Equifax data breach
Earlier this week, Equifax put the blame for the breach on a web server vulnerability in its Apache Struts open-source software. Equifax discovered the unauthorized access on July 29 of this year and acted immediately to stop the intrusion, it said.

19 September 2017
Action Launcher 28 arrives with full Adaptive Icon support
When it comes to Action Launcher, the new update will bring some of the best features of Android Oreo to those with older devices. Most older devices are not supported because the new operating system would likely just be too much for the older devices to run.

19 September 2017
Teva offloads its remaining women health biz for $1.38bn
The drugs include contraceptives Seasonique and Zoely, menopause medication Colpotrophine, fertility treatment Ovaleap, . Proceeds from these sales and from the recently announced sale of the Paragard contraceptive coil total $2.48 billion.

19 September 2017
Students turn cancer fundraiser into 'rape' joke at HS football game
A picture of the boys, with blurred faces, was shared on the Facebook page Anderson 5 Citizens for Quality Education . While another one wrote, "Wow. beyond unacceptable.

19 September 2017
Exhausted of being sexually assaulted by her son, mother gets him killed
A woman, her son and his accomplices from Bhayander have been arrested for murdering her younger son on her instructions. A woman was arrested in Vasai Sunday for allegedly paying her son and his friends to murder her younger son.

19 September 2017
Mike Francesa calls James Franklin a "stooge" (and worse) for icing a kicker
And then try to lie about it. "Let the ball go through the uprights, you jerk", Francesa said . On Saturday, Penn State was up 56-0 on Georgia State with 11 seconds left in the contest.

19 September 2017
Hamas tunnel collapses in Gaza, third death in days
Facing those conditions, Hamas has turned to Egypt for assistance, particularly involving fuel to produce power. As a result, Israel has for month been building a deep underground wall at its borders with Gaza.(ANSAmed).

19 September 2017
Death toll in Grenfell Tower blaze may be lower than 80
Police said they believed the death toll from the 14 June blaze may fall slightly from the current estimate of about 80. Charges could be brought against individuals or organisations.



Recommended