You are here

US: Stocks open higher ahead of Fed meeting

Tuesday, December 13, 2016 - 22:56

24-24724384 - 12_07_2012 - forex13.jpg

[NEW YORK] Wall Street stocks opened higher Tuesday as the Dow advanced to within striking distance of 20,000 points shortly before the start of a two-day Federal Reserve monetary policy meeting.

Five minutes into trading, the Dow Jones Industrial Average had risen to 19,879.59, up 0.4 per cent.

The broad-based S&P 500 also gained 0.4 per cent to 2,266.11, while the tech-rich Nasdaq Composite Index jumped 0.5 per cent to 5,437.42.

US stocks have repeatedly pushed to new records since US election day in anticipation of pro-growth policies following the Republican sweep.

Analysts expect the Fed on Wednesday to hike interest rates for just the second time in a decade.

The market will be scrutinising the Fed's commentary for clues about the planned pace of rate hikes in 2017 after a lengthy stretch of unusually low interest rates.

AFP

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom