USA stocks close higher ahead as Fed meeting starts

21 September, 2017, 00:58 | Author: Sherri Guerrero
  • Bloomberg News     
       The Bank of Japan is expected to make no changes Thursday

The Dow rose as advances in shares of General Electric and those of Caterpillar, recently up 2.2 percent and 1.9 percent respectively, outweighed declines in shares of Apple and those of Nike, recently down 1 percent and 0.7 percent respectively.

The Dow Jones Industrial Average rose 1.14 points, or 0.01 percent, to 22,371.94. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by less than a basis point at 2.238 percent.

The Fed will conclude its two-date policy meeting on Wednesday.

Any reduction in the balance sheet could make it harder for banks and investors to borrow certain Treasuries in the repurchase agreement market, making it more difficult and expensive to bet on or protect against interest rate increases.

On the US economic front, the Commerce Department released a report showing an unexpected decrease in new residential construction in the month of August.

Data showed USA homebuilding fell for a second straight month in August as a rebound in the construction of single-family houses was offset by weakness in the multifamily home segment.

NAR said existing home sales slumped by 1.7% to an annual rate of 5.35 million in August after tumbling by 1.3% to a rate of 5.44 million in July.

The biggest US telephone operators, Verizon VZ.N and AT&T T.N , rose more than 2 percent, providing the second- and third-biggest individual stock boosts for the S&P.

Wife of ousted PM Sharif wins Pakistan by-election
He's likely to use his interactions with American officials to halt a rapid deterioration in US-Pakistan relations, reports said. He will outline Pakistan's positions on key worldwide political, social and development issues of vital concern to the country.

U.S. stocks gain as all three main indexes close at records
Notable strength also emerged among banking stocks, as reflected by the 0.9% gain posted by the Dow Jones Banks Index. Gold stocks fell though, with Kinross, Alamos and Barrick all declining 1 to 2 per cent.

Tillerson may close Cuban embassy over attacks
In Washington, lawmakers in Congress have been raising alarm over the incidents, with some calling for the embassy to be closed. Cuba has denied any involvement or responsibility but stressed that it's eager to help the U.S. resolve the matter.

The consumer staples sector.SPLRCS fell 0.9 percent while the utilities sector.SPLRCU ended 0.8 percent lower.

JPMorgan Chase (JPM) advanced 1.2% and Goldman Sachs (GS) increased 1% to be among the top gainers on the Dow. The index reached its best closing level in two months.

Alnylam Pharmaceuticals ( ALNY ) is posting a substantial gain after the biopharmaceutical company reported positive trial results for its treatment of a rare genetic disease.

In overseas trading, stock markets across the Asia-Pacific region turned in a lackluster performance during trading on Wednesday. China's Shanghai Composite Index dipped by 0.2 percent, while Hong Kong's Hang Seng Index fell by 0.4 percent.

The biggest percentage gain was the telecom services sector's .SPLRCL 2.3 percent jump on merger and acquisition speculation.

The major European markets have also shown a lack of direction on the day.

In Europe, the pan-European Stoxx-600 index was little changed on Tuesday morning. "Should the Fed go ahead and announce a balance sheet normalisation the dollar will rally but the extent of the move hinges on any hints about the Fed raising rates in December".



Trump says democracy must be restored in Venezuela soon
Several prominent opposition mayors have been removed or ordered arrested by the Supreme Court. "We want it to happen very soon". General Assembly, Trump said the Venezuelan people were starving and their country was collapsing.

Revealed!! AMM factor compels India to take stern stance on Rohingya issue
The latest violence erupted after Rohingya militant raids on 30 police posts in Rakhine triggered a military crackdown. The affidavit was filed in response to a petition against the deportation of Rohingya Muslims from India.

Shearer: Liverpool no different under Klopp compared to Rodgers
Klopp has been easing the 24-year-old into action as he adjusts to the demands of his system, and the trip to the King Power Stadium provides him with a vital opportunity.

Gov. Doug Ducey says he supports latest health care repeal law
The GOP needs at least 50 senators to vote for the bill, which would then have to be considered by the House of Representatives. CBO said Monday it "is aiming to provide a preliminary assessment of the Graham-Cassidy bill by early next week".

Epic Accidentally Let PS4 And Xbox One Players Battle Together On Fortnite
The possibility of cross-play continues to intrigue gamers who're often segregated by their choice of Microsoft or Sony consoles. "We had a configuration issue and it has now been corrected", a representative told the website via email.

Caribbean islands brace again as storm strengthens to Hurricane Maria
Storm Team 4 says the storm will likely weaken to a tropical storm as it makes its nearest pass to the tri-state. A tropical storm warning was issued for Antigua and Barbuda , Saba, St Eustatius and St Lucia .

Kentucky 23 SC 13 4th Quarter
SC leads the all-time series against Kentucky 17-10-1. 142 Consecutive games have been played by SC since it was last shut out. SC has lost four straight to Kentucky and will face Texas A&M and Tennessee in road contests in the next four weeks.

President Trump To Make Debut At UN General Assembly
Trump had once described the United Nations as "a club for people to get together, talk and have a good time ". McMaster said "Iran's destabilizing behavior" would be a major focus of those discussions.

Kevin Durant Appears To Tweet At Hecklers With Burner Accounts
Durant has himself in a situation , as he will be asked about his recent tweets the next time he is in front of the media. The tweets were dissing his former Oklahoma City Thunder coach and teammates.

Pirate Bay is Slowing Your Computer: Find out How
Pirate Bay told Torrent Freak that not all pages on the site are activated as the monetization option is now in testing. The website utilizes the JavaScript from Hivemind, which is self-described as "a monero miner for your website".