Dow, S&P 500 close at new records in NY

About 5.97 billion shares changed hands on US exchanges on Monday, compared with the 5.91 billion average for the last 20 sessions.

The Dow Jones Industrial Average was up 39.45 points, or 0.17 per cent, to 22,370.80, the S&P 500 gained 2.78 points, or 0.10 per cent, to 2,506.65 and the Nasdaq Composite added 6.68 points, or 0.10 per cent, to 6,461.32.

The strength on Wall Street reflects recent upward momentum, with traders shrugging off a recent batch of disappointing economic data.

USA futures pointed to another positive session on Wall Street on Monday, as worries about North Korea receded and as investors looked ahead to the latest policy announcement from the Federal Reserve.

The Fed is expected to announce when it will begin paring its bond holdings, and while a September interest rate increase is not expected, investors will closely study Fed Chair Janet Yellen's views on inflation for clues whether the Fed will raise rates in December.

On the USA economic front, the Commerce Department released a report showing an unexpected decrease in new residential construction in the month of August.

On the economic front, United States privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,180,000, beating market consensus, the Commerce Department reported on Tuesday.

The Dow climbed as gains in shares of Verizon and those of JPMorgan Chase, recently up 2 percent and 1.5 percent respectively, outweighed slides in shares of UnitedHealth and those of General Electric, recently down 2.3 percent and 1.6 percent respectively.

A separate report released by the Labor Department showed increases in USA import and export prices in the month of August.

Bed Bath & Beyond sank more than 16 percent after the home furnishing retailer reported earnings and sales below estimates, prompting a slew of price target cuts.

As well investors are looking to the meeting to provide a stronger guide for the next rate rise - expected by the end of the year.

So since hitting a low on August 17, the S&P 500 energy sector has risen almost 8% and is the best performing sector so far this month. Export prices had been expected to edge up by 0.2 percent. "With the things I'm trading today, just nodding at the stock moves prices".

However, Japan's Nikkei 225 Index jumped by 2%.

Meanwhile, the major European markets moved to the upside on the day. Germany's DAX Index eked out a 0.02 percent gain, France's CAC 40 Index added 0.2 percent, while the UK's FTSE 100 Index rose 0.3 percent.



Latest news

Man Utd star Mkhitaryan: Life will be hard without Pogba
Manchester United midfielder Paul Pogba has revealed that Paul Scholes and Michael Carrick are his Old Trafford role models. The Red Devils did well against Everton on Sunday in the absence of Pogba, as they put four past the Merseyside club.

Should You Buy Centene Corporation (CNC) or Anthem, Inc. (ANTM)?
It also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. During the past six months, Centene Corporation (NYSE:CNC)'s stock has been 34.16% and 33.17% for the last 12 months.

Tesla is working with AMD to build a custom-made AI chip
A more power-efficient purpose-built chip could help Tesla get closer to delivering totally autonomous driving. GlobalFoundries has a wafer supply agreement in place with AMD through 2020.

European Parliament's top Brexit link to meet Northern Ireland leaders
Ulster Unionist leader Robin Swann said after meeting the MEP that "special status for Northern Ireland is not an option". Diane Dodds, a DUP MEP dismissed the idea that Northern Ireland should be treated differently to the rest of the UK.

Sean Spicer Admits He Regrets Lying About Inauguration Crowd Size
He explained that the joke was instead "an attempt to poke a little fun at myself and add a little bit of levity to the event". Corden isn't the first late-night comedian to get heat for their relationship with the Trump administration.

Other news