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Wall Street rallies ahead of Fed meeting

2019-03-19 02:37 pm | Resource: News | No Views : 109

 Markets opened in the US in the Green Zone on Tuesday ahead of the Federal Reserve's monetary policy meeting for two days. The Fed is due to announce its interest rate decision on Wednesday and is expected to keep interest rates.

On the data front, market observers followed factory orders numbers issued shortly after the trading session began.

US factory orders up 0.1% in January

The US Census Bureau said in a statement on Tuesday that the increase in factory orders in the United States in January was only 0.1 percent, or $ 0.3 billion, lower than forecast but in line with the previous month's rise. In total, factory orders for this month reached 500.5 billion dollars.

Shipments fell by 0.4% in the first month of 2019 to $ 503.1 billion, more than in December when they decreased by 0.2%. New durable goods orders rose 0.3% to $ 255.3 billion, posting a three-month growth, the report showed. The positive trend was supported by a rise of 1.2% to $ 91 billion in transport equipment.

Exports of durable goods decreased by 0.5%, reaching $ 257.9 billion last month, compared to a 0.7% expansion in December. Non-durable goods were shipped 0.2% in January, valued at $ 245.2 billion. Meanwhile, durable goods inventories rose 0.5% to $ 417.2 billion in the first month of 2019.

US Stocks Open
  • The Dow Jones Industrial Average rose 0.36%. The financial sector led gains, with Goldman Sachs gaining 1.14% an hour at 15:47 CET, while JP Morgan rose 0.85%.
  • The Nasdaq 100 rose 0.43%, with Nvidia jumping 3.23% at 15:32 CET, the best performer on the index.
  • The Standard & Poor's 500 Index gained 0.38% and Nvidia, advanced Micros Devices, gained 3.83% at 15:47 CET.

The euro rose 0.12% against the dollar to sell against 1.1351 at 15:33 at 15:47 CET.

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