US stocks extend gains ahead of Fed minutes
Wednesday - August 22, 2018 12:30 am ,
Category : BUSINESS
US stocks extend gains ahead of Fed minutes
New York Aug 22 (IANS) US stocks traded higher in the morning session on Tuesday as investors awaited the minutes from the Federal Reserve s latest meeting scheduled for release on Wednesday.
The Dow Jones Industrial Average climbed 111.61 points or 0.43 per cent to 25 870.30. The S&P 500 was up 13.71 points or 0.48 per cent to 2 870.76 Xinhua news agency reported.
The Nasdaq Composite Index rose 66.97 points or 0.86 per cent to 7 887.97.
Investors kept a close eye on the minutes for more clues on the Fed s policy plans on interest rates.
Multiple media outlets on Monday reported that US President Donald Trump said he would continue criticizing the Fed should it continue to raise short-term interest rates which the central bank has indicated it will do at a steady clip.
The Fed s annual economic symposium that will start later this week in Jackson Hole in the US state of Wyoming is also in focus.
Fed Chair Jerome Powell is due to deliver a speech on Friday and the summit will be themed around the idea of changing market structure and the implications for monetary policy going forward.
--IANS pgh/
The Dow Jones Industrial Average climbed 111.61 points or 0.43 per cent to 25 870.30. The S&P 500 was up 13.71 points or 0.48 per cent to 2 870.76 Xinhua news agency reported.
The Nasdaq Composite Index rose 66.97 points or 0.86 per cent to 7 887.97.
Investors kept a close eye on the minutes for more clues on the Fed s policy plans on interest rates.
Multiple media outlets on Monday reported that US President Donald Trump said he would continue criticizing the Fed should it continue to raise short-term interest rates which the central bank has indicated it will do at a steady clip.
The Fed s annual economic symposium that will start later this week in Jackson Hole in the US state of Wyoming is also in focus.
Fed Chair Jerome Powell is due to deliver a speech on Friday and the summit will be themed around the idea of changing market structure and the implications for monetary policy going forward.
--IANS pgh/
