Wall St hits new record highs as financials, industrials gain

21 September, 2017, 00:57 | Author: Marjorie Miles
  • Asia markets follow Wall St rally as eyes turn to Fed meeting

The choppy trading comes after the major averages reached new record closing highs in the previous session.

After pushing the S&P above its 2,500-point milestone last week, investors were holding their fire as they awaited more clues on the timing of the next rate hike from Fed Chair Janet Yellen.

Currently, the major averages are almost unchanged, showing moves of less than a tenth of a percent.

The Dow Jones Industrial Average .DJI rose 39.45 points, or 0.18 percent, to 22,370.8, clocking its sixth straight record close.

In the bond market, treasuries came under pressure on the heels of the announcement from the Fed.

Trai cuts termination charge on mobile voice calls; Reliance Jio to gain
Effective October 1st, TRAI has reduced IUC charges to 6 paise/minute from the existing 14 paise/minute. Jio also stated that it is of the opinion that waiving the charge will benefit consumers.

Jack Ablin of BMO Private Bank told AFP investors likely now expect the Fed will brush aside concerns about economic damage from back-to-back hurricanes Harvey and Irma, and raise interest rates for a third time later this year.

Meanwhile, traders have largely shrugged off a report from the National Association of Realtors showing an unexpected decrease in existing home sales in the month of August. Economists had expected housing starts to jump by 1.7 percent.

The blue-chip and tech-heavy was unchanged, at 7:06AM ET (11:06GMT), the inched up 1 point, or 0.02%, while the tech-heavy edged forward 1 point, or 0.01%.

Data showed US homebuilding fell for a second straight month in August as a rebound in the construction of single-family houses was offset by weakness in the multifamily home segment. Economists had expected import prices to rise by 0.4 percent.

Natural gas, gold, and transportation stocks have also moved to the upside on the day, while some weakness visible among computer hardware and semiconductor stocks.

Russian gunship fired accidentally at onlookers
It said it happened Sunday or Monday at the Luzhsky range, about 100 kilometers (60 miles) east of the border with Estonia. Russian Federation launched short range ballistic missiles, naval forces, and its newest Ka-52 attack helicopters.

Telecom stocks are seeing notable strength, however, with the NYSE Arca Telecom Index climbing by 1.1 percent.

In overseas trading, stock markets across the Asia-Pacific region turned in a lackluster performance during trading on Wednesday.

The Nasdaq Composite .IXIC added 6.68 points, or 0.1 percent, to 6,461.32, also squeaking out a record closing high, slightly above its September 13 close.

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

Last week, the S&P 500 had weekly gains of 1.6%, its best since the first week of January while the more narrower Dow jumped 2.2% for its best week since early last December.

Gamecocks take a step backward, lose to Kentucky 23-13
Sophomore Rico Dowdle has yet to break out in the run game, but back-up Ty'Son Williams did have a few big runs against Missouri. Georgia running back Nick Chubb took command in the Bulldogs' 42-10 win over Samford, also named the Bulldogs.

The major European markets also ended the day roughly flat. "Should the Fed go ahead and announce a balance sheet normalisation the dollar will rally but the extent of the move hinges on any hints about the Fed raising rates in December".

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