Wall St edges up on telecom gains; Fed meet in focus

Angelica Greene
September 20, 2017

Later on Tuesday, the USA central bank is poised to begin a two-day meeting. GM stocks was up slightly in early trading.

The Hang Seng Index slid 0.27% while gains on the mainland were subdued.

Health index was the biggest laggard on the S&P, pulled lower by United Health's 2.2 percent fall.

The Dow Jones Industrial Average climbed for a sixth consecutive session, hitting another record high, while the S&P 500 touched the 2,500 benchmark in its own run to an all-time peak, shrugging off geopolitical uncertainties and downbeat US data on gains in telecommunications and financials. The Nikkei jumped 2% to end at 20,299.38, the highest closing level since August 2015. Wellard shares soared 16 percent as the country's biggest cattle exporter agreed terms for its first shipment of beef cattle to China.

Global stock markets traded in fairly narrow ranges Tuesday as investors paused for breath, a day after USA stock markets struck a record high and geared up for the latest interest rate decision from the U.S. Germany's economic confidence strengthened notably in September, survey data from the Mannheim-based Centre for European Economic Research/ZEW showed. At the same time, The S&P 500 index SPX, +0.18% logged a fresh record finish, its 34th of 2017.

The pan-European Stoxx 600 index was down 0.1 percent at 381.64 in late opening deals after rising 0.3 percent the previous day.

Wall St edges up on telecom gains; Fed meet in focus

The CAC 40 Index - over 10%. Northrop's shares rose 1.64 per cent.

The report said housing starts fell by 0.8 percent to an annual rate of 1.180 million in August from a revised 1.190 million in July. "The Committee expects that economic conditions will evolve in a manner that will warrant gradual increases in the federal funds rate", Federal Reserve stated in last meet on 25-26 July 2017.

Shares of Kohl's climbed, up 2.2 percent as of 2.09pm in NY, after the department store operator it will offer free returns for Amazon customers starting in October.

Shares of Heineken dropped 3.8 percent in Amsterdam after Fomento Economico Mexicano, a Mexican bottler and retailer, said it sold a 5.24 percent stake in the world's No. 2 brewer for about 2.5 billion euros (US$3 billion).

Meanwhile, Caterpillar rose two percent, hitting a record high after UBS analysts said the company was due to benefit from growing spending in the mining and construction sectors.

CURRENCIES: In the run-up to the decision, the dollar was largely steady, with the euro up 0.2 percent to $1.1974.

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