|
|
|
US stocks rise with Fed meeting in focus
|
|
|
|
Top Stories |
|
|
|
|
IANS | 16 Sep, 2020
US stocks finished higher as Wall Street paid close attention to a key meeting by the Federal Reserve.
On
Tuesday, the Dow Jones Industrial Average rose 2.27 points, or 0.01 per
cent, to 27,995.60. The S&P 500 climbed 17.66 points, or 0.52 per
cent, to 3,401.20. The Nasdaq Composite Index jumped 133.67 points, or
1.21 per cent, to 11,190.32, Xinhua news agency reported.
Shares of big US tech names such as Amazon, Facebook, Netflix and Google-parent Alphabet all closed higher.
Eight
of the 11 primary S&P 500 sectors moved higher, with communication
services and real estate up 1.72 per cent and 1.39 per cent,
respectively, outpacing the rest. Technology advanced 1 per cent.
Financials, however, slipped 1.36 per cent, the worst-performing group.
US-listed
Chinese companies traded mostly higher, with six of the top 10 stocks
by weight in the S&P US Listed China 50 index ending the day on an
upbeat note.
The US central bank kicked off its two-day policy
meeting on Tuesday. Investors awaited reassurance from the Federal
Reserve that monetary policy will remain accommodative for the
foreseeable future.
"One of the highlights of this week Fed's
policy meeting is likely to be greater clarity on the implementation of
the shift towards an average inflation target," analysts at UBS said in a
note Tuesday.
"The move will make it easier for the Fed to
tolerate moderately higher levels of inflation before tightening
policy," they said.
Market sentiment also got a boost after data
showed China's economic recovery continued picking up steam last month,
with major economic indicators further improving as the country's
efforts to boost growth amid the COVID-19 slowdown gradually paid off.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|