Economy

How major United States stock market indexes fared Tuesday

How major United States stock market indexes fared Tuesday”

The dollar gained against the yen on Wednesday in a thin regional data day with the focus on the likely unveiling of plans for USA tax cuts later in the day.

Micron Technology jumped more than 5 percent after the company reported a better-than-expected profit and forecast results above estimates.

Australia's financial stocks fell as much as 0.4 percent, with Commonwealth Bank of Australia dropping as much as 0.6 percent to its lowest in more than two weeks.

The Nasdaq is down 46.76 points, or 0.7 percent. Stocks in Southeast Asia were mixed.

"Given that monetary policy affects economic activity and inflation with a substantial lag, it would be imprudent to keep monetary policy on hold until inflation is back to 2%", she said. "The impact of a successfully implemented (tax overhaul) plan would be far-reaching with President Trump placing a key focus on bringing back funds from US firms "parked overseas".

USA stocks have rallied since Trump's presidential victory previous year mainly on hopes of lower taxes, higher infrastructure spending and looser regulation.

Meanwhile, Federal Reserve Chairwoman Janet Yellen defended the central bank's projection for a gradual path of interest-rate increases over the next few years while speaking at an economic conference in Cleveland on Tuesday.

Shares of technology companies rose Tuesday, helping major USA stock indexes stabilize after Monday's declines.

The Standard & Poor's 500 index rose 0.18 points to 2,496.84.

Dow e-minis were up 13 points, or 0.06 percent, with 15,243 contracts changing hands.

The Russell 2000 index of smaller-company stocks climbed 4.91 points, or 0.3 percent, to 1,456.86. On Tuesday, oil prices faltered slightly as traders book some profits with benchmark USA crude down 26 cents at $51.96 per barrel in electronic trading on the New York Mercantile Exchange. Chip maker Nvidia added 0.6% and shares of Apple, which have tumbled this month, gained 1.7%. Without any new major geopolitical developments on Tuesday, investors appeared to be taking advantage of the recent declines, analysts said.

That sent the dollar to its highest level since August 31 against a basket of currencies and was last holding at 92.966.

The euro-area inflation rate may have accelerated a touch to 1.6% in September from 1.5% but the core will probably remain at 1.2% when data is out on Friday.



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