Dow Clambers Above 26,000 at Open, Attempts to Match Longest Win Streak of 2019 Ahead of Fed Update
Tuesday, 19 March 2019 20:53 WIB |
MARKET UPDATE |DOW JONESS & P 500SahamAS
U.S. stocks on Tuesday opened solidly higher ahead of a policy update by the Federal Reserve set to be released Wednesday afternoon. Investors appeared to shake off news reports that President Donald Trump and Chinese leader Xi Jinping to formally end a U.S.-China trade dispute is unlikely to occur until June.
A report from Bloomberg News last week placed April as a tentative time for that gathering, delayed from sometime this month. The Dow Jones Industrial Average was up solidly, gaining 113 points, or 0.4%, to 26,029, on pace for its fifth gain in a row, which would match the blue-chip index's longest string of gains since the period ended Jan. 10, according to FactSet data. The S&P 500 index rose 0.4% at 2,844, while the Nasdaq Composite Index climbed 0.5% to 7,756.
A meeting of the rate-setting Federal Open Market Committee is set to commence later Tuesday morning, with an update to policy set to be released at 2 p.m. Eastern Time. In corporate news, shares of Nvidia Corp. were in focus Tuesday after the company announced Monday evening that Amazon.com Inc. would now be using its T4 data-center chips.
Source : Marketwatch