LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS

Read in App
Business News » World News

Wall Street edges up as U.S. Fed meeting is in focus

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Wed, Sep 20, 2017
12:39 am
Reuters
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

U.S. stocks were slightly higher on Tuesday, helped by gains in financial, technology and telecom stocks, but indexes traded in a narrow range as investors stayed away from making major bets ahead of the Federal Reserve`s policy meeting.

The U.S. central bank, which begins its two-day meeting on Tuesday, is widely expected to announce on Wednesday that it will begin paring its bond holdings, with reductions likely to start in the coming months.

While a September interest rate increase is not expected, investors will closely watch Fed Chair Janet Yellen`s views on inflation, as they look for clues on whether or not the Fed will raise rates in December.

"There`s one school of thought that rates will go up because there`s some inflation coming from a very tight labour market and storms that will create very tight demand," said Rick Meckler president of LibertyView Capital Management in Jersey City, New Jersey, regarding Tuesday`s boost to bank stocks, which benefit from higher rates.

Six of the 11 major S&P sectors were higher, with the financial sector`s 1-percent gain providing the biggest boost and the biggest percentage gain was the telecom services sector`s <.splrcl> roughly 2 percent jump due to mergers and acquisitions speculation. Technology <.splrct> rose 0.5 percent.

"In a market that gets fairly fully priced, you tend to get more sector rotation," Meckler said.

At 2:59 p.m. ET, the Dow Jones Industrial Average <.dji> rose 41.46 points, or 0.19 percent, to 22,372.81, the S&P 500 <.spx> gained 2.52 points, or 0.10 percent, to 2,506.39 and the Nasdaq Composite <.ixic> added 4.49 points, or 0.07 percent, to 6,459.13.

"People are in wait-and-see mode. The expectations are that rates will remain unchanged and they (the Fed) will start balance sheet unwinding. But there`s always a possibility of surprise. I think that`s why investors are cautious," said Brad McMillan, chief investment officer for Commonwealth Financial in Waltham, Massachusetts.

The biggest U.S. telephone operators, Verizon and AT&T rose more than 2 percent, helping to lift the S&P. Shares of smaller wireless carrier T-Mobile rose 5.3 percent and Sprint jumped 8.1 percent, following a report they were in active merger talks.

The healthcare index <.spxhc> was one of the biggest laggards amid declines in insurers such as United Health , which fell 1.9 percent due to the latest efforts in Washington to overhaul Obamacare.

Best Buy fell 7.4 percent after the No.1 U.S. electronics retailer forecast 2021 adjusted earnings well below Wall Street estimates. The stock was one of the biggest drags on the consumer discretionary index <.splrcd>.

Tesla fell 2.4 percent after Jefferies started coverage of the electric car maker`s stock with "underperform".

Advancing issues outnumbered declining ones on the NYSE by a 1.07-to-1 ratio; on Nasdaq, a 1.04-to-1 ratio favoured advancers.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

LATEST NEWS

Have car? You will have to pay up to Rs 5,000 fine in case of this big mistake

7th Pay Commission Latest News: Salary up to Rs 2.08 lakh plus NPA; take the first step to get this government job available on upsc.gov.in

Vi vs Jio vs Airtel: Check some of the best cheap prepaid recharge plans for you | Full details here

Stock Market Holidays 2021 India: Trading to remain suspended on Sensex, Nifty, others Tomorrow for Republic Day 2021

FAU-G Game Launch date: Good news! Release tomorrow, beats PUBG Mobile India

Republic Day 2021: LIVE! Tight security for 72nd R-Day celebrations, tractor parade--seating arrangement made keeping social distancing in mind

In chat with Anil Singhvi, Sandeep Jain recommends Goldiam International as a stock to buy

K-pop super band BTS have ''surprise gifts'' for fans

PNB account holder? Alert! Do this before March 31 or you won't be able to transfer money

Stock Market Holidays 2021 India: Sensex, Nifty, other markets closed today for Republic Day celebration

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved