Morning all
Thanks AM crew
SPI +33
XJO Yesterday -18 @ 5545
U.S. equities traded higher on Tuesday as investors kept an eye on a key
Federal Reserve meeting, while the Dow Jones industrial average closed in on another milestone.
The Dow also hit a new intraday high shortly after Tuesday's open, rising more than 100 points, with
IBM and
Apple contributing the most gains. The S&P 500 also hit a new intraday record, rising 0.7 percent, with energy and information technology leading advancers. The Nasdaq composite outperformed, advancing 1.1 percent to a new all-time high.
The Fed began a two-day monetary policy meeting, with most market participants expecting the central bank to raise interest rates by 25 basis points.
A new political regime took hold on November 8th and tomorrow we'll see if there is any acknowledgement of that from the FOMC and whether we're about to embark on a new monetary regime. I would define 'new monetary regime' as anything more aggressive than the pace of one rate hike per year," said Peter Boockvar, chief market analyst at The Lindsey Group, in a note. 1
The
Dow Jones industrial average rose 130 points, or 0.66 percent, to 19,927, with Exxon Mobil leading advancers and Coca-Cola the biggest decliner.
The
S&P 500 gained 15 points, or 0.7 percent, to trade at 2,273, with energy leading nine sectors higher and materials and real estate lagging.
The
Nasdaq composite advanced 60 points, or 1.11 percent, to 5,472.
Oil traded roughly flat on Tuesday, supported by strong demand in Asia and supply cuts by Abu Dhabi, Kuwait and Qatar as part of production curbs organized by OPEC and other exporters.
However, the market faced pressure as investors closed positions to take profits on strong gains the day before.
Traders said there was significant profit-taking after oil shot to mid-2015 highs earlier this week, boosted by the deal reached by the Organization of the Petroleum Exporting Countries and other exporters to cut output by a combined 1.8 million barrels per day. 2
International Brent was down 1 cent at $55.68 by 2:49 p.m. ET (1940 GMT).
U.S. West Texas Intermediate (WTI) settled up 15 cents $52.98.
Copper - 1.4%
Nickel + 1%
Zinc - .9%
Aluminium + .6%
Gold $ 1159
HUI + 1.6%
AUD Gold $ 1544
AUD .7503
Have a good day
1 & 2 CNBC
