Wall St. supported by tech stocks, finances rise in front of Fed By Reuters
© Reuters. Traders work on NYSE floor in New York By Amy Caren Daniel
(Reuters) – US stocks regained Tuesday after losing about 2 percent in each of the last two days, helped by gains in the technology sector and one upturn in some bellwether shares such as Boeing and J & J.
However, the focus is on the Federal Reserve, which begins its two-day monetary policy meeting among a number of talks, including from President Donald Trump, to stop his tightening cycle or risk harming USA or the global economy.
With an expected fourth rate increase for the year on Wednesday, the financial () ̵[ads1]1; worst performing S & P sector this month – increased 0.50 percent. [19659004] "The moratorium meeting tomorrow is very important and the last hurdle for many investors," said David Page, senior economist at AXA IM in London.
"I think we see some kind of break and stabilization as markets are waiting to see what's going to happen in the future."
The S & P 500 is about 12 percent below record high, trading with what is called a correction area, and ended Monday to 14 months low. The benchmark has struggled to hold on gains in a particularly volatile December in the backdrop of concerns about global growth, prices and China-US. trade war.
Nine of the 11 major S & P sectors were higher. The biggest promise to the market came from the recently demolished technology index (), which became 1.47 percent.
Boeing Co (N 🙂 snap a three-day losing stretch increases by 4 percent. The warehouse was the biggest promise to Dow Industrials.
Other listed stocks moved higher, including Apple Inc. (O :), Amazon.com Inc. <.amzn.o> and Facebook Inc. (O :), which rose between 2 percent and 4 percent. They were the biggest boosts to S & P and Nasdaq.
at. 12.43. ET Dow Jones Industrial Average () was 281.56 points, or 1.19 percent, 23.874.54, S & P 500 () was 21.51 points, or 0.84 percent, 2,567.45 and Nasdaq Composite () were up 79.91 points or 1.18 percent, at 6,833.65.
Energy (), the second worst performing sector in the month, tumbled another 0.87 percent when oil prices slowed down after reports of revenge stocks.
Refund Shares Included Goldman Sachs Group Inc (N :), which rose 2.4 percent to get a 9-day tape strip associated with the 1MDB scandal.
Johnson & Johnson (N 🙂 rose 2.4 percent, after nearly 13 percent dropped over two days on a Reuters report that J & J knew for decades that his baby powder contained asbestos.
Accelerating issues were decliners for a 1.50-to-1 ratio on NYSE and a 1.25-to-1 ratio on Nasdaq.
The S & P index recorded no new 52-week highs and 42 new downs, while Nasdaq registered 6 new heights and 333 new downs.
