Business
US stocks close higher amid trade hopes, Fed meeting
New York, June 19
US stocks ended higher as hopes of easing trade tensions cheered on Wall Street ahead of the upcoming G20 Summit in Japan.
Investors have closely followed up on US Federal Reserve's monetary policy meeting starting on Tuesday.
The Dow Jones Industrial Average on Tuesday rose 353.01 points, or 1.35 per cent, to 26,465.54. The S&P 500 was up 28.08 points, or 0.97 per cent, to 2,917.75, Xinhua news agency reported.
The Nasdaq Composite Index was up 108.86 points, or 1.39 per cent, to 7,953.88.
Eight of the 11 primary S&P 500 sectors traded higher around market close, with the industrials sector up nearly 1.9 per cent, leading the gainers.
The majority of the Dow 30 blue-chip stocks extended gains, with Boeing and Intel rallying 5.37 percent and 2.69 percent, respectively, leading the gainers.
Sensitive to global trade, the two firms are widely seen as key bellwethers of real-time impacts of US-China trade developments on stock markets.
Yet shares of Facebook fell nearly 0.29 per cent, after the social media giant announced on Tuesday a plan to create a new digital currency.
The cryptocurrency is scheduled to be launched in the first half of 2020, which will allow Facebook to spot a niche in e-commerce and online payments.
The US central bank's two-day policy meeting is underway until Wednesday, which has fuelled market bets on the Fed's dovish monetary moves later this year.
Investors and analysts are waiting for the Fed to announce its latest decisions on Wednesday afternoon. Yet the broad market expected the Fed to remain its benchmark interest rates unchanged.
Investors have closely followed up on US Federal Reserve's monetary policy meeting starting on Tuesday.
The Dow Jones Industrial Average on Tuesday rose 353.01 points, or 1.35 per cent, to 26,465.54. The S&P 500 was up 28.08 points, or 0.97 per cent, to 2,917.75, Xinhua news agency reported.
The Nasdaq Composite Index was up 108.86 points, or 1.39 per cent, to 7,953.88.
Eight of the 11 primary S&P 500 sectors traded higher around market close, with the industrials sector up nearly 1.9 per cent, leading the gainers.
The majority of the Dow 30 blue-chip stocks extended gains, with Boeing and Intel rallying 5.37 percent and 2.69 percent, respectively, leading the gainers.
Sensitive to global trade, the two firms are widely seen as key bellwethers of real-time impacts of US-China trade developments on stock markets.
Yet shares of Facebook fell nearly 0.29 per cent, after the social media giant announced on Tuesday a plan to create a new digital currency.
The cryptocurrency is scheduled to be launched in the first half of 2020, which will allow Facebook to spot a niche in e-commerce and online payments.
The US central bank's two-day policy meeting is underway until Wednesday, which has fuelled market bets on the Fed's dovish monetary moves later this year.
Investors and analysts are waiting for the Fed to announce its latest decisions on Wednesday afternoon. Yet the broad market expected the Fed to remain its benchmark interest rates unchanged.
8 hours ago
Why Christians should be wary of voting for BJP (George Abraham)
8 hours ago
Seven teens arrested in counter-terrorism raids after Sydney church stabbing
8 hours ago
Why Christians should be wary of voting for BJP
11 hours ago
New York Hosts 'Festival of Bliss'
11 hours ago
Blistering two month campaign comes to a close, over to Kerala voters now
11 hours ago
Chicago Indian Community Gathers to Celebrate Holi
11 hours ago
Recent Study Reveals: United States and India Among the Top Five Nations in Military Expenditure
12 hours ago
The United States is initiating measures to tackle the shortage of staff in nursing homes, according to Kamala Harris
12 hours ago
Decline for Bhavini Patel's Congressional Effort
12 hours ago
Meeting in New York to commemorate the birth anniversary of B. R. Ambedkar
13 hours ago
Siddaramaiah govt under NCBC fire: Religion-based ‘quota push' in K’taka vindicates what PM Modi said?
13 hours ago
All three units of EVMs have their own microcontroller, ECI tells SC
13 hours ago
Mumbai Patra Chawl case: ED attaches properties valued at over Rs 73 cr