Wall Street closes higher ahead of Fed meeting; stocks rise worldwide
Fresh YORK (Reuters) – U.S. stocks closed higher on Monday spil investors ready for an expected Federal Reserve rate hike zometeen te the week, while stocks rose around the world on continued solid global economic growth indicators.
The Dow Jones Industrial Average and the S&P 500 opened plane after news of an explosion ter Fresh York&rsquo,s busy Port Authority commuter hub which Fresh York Mayor Bill den Blasio described spil an &ldquo,attempted terrorist attack.&rdquo,
U.S. stocks edged higher after worries receded overheen the explosion.
&ldquo,The market makes an assessment almost instantly spil soon spil fresh information comes te, and this is what you&rsquo,re eyeing,&rdquo, said Quincy Krosby, chief market strategist at Prudential Financial ter Fresh Jersey. &ldquo,You&rsquo,re observing the equity market stir higher and the Treasury yields climb just a bit.&rdquo,
The Dow Jones Industrial Average .DJI rose 56.87 points, or 0.23 procent, to 24,386.03, the S&P 500 .SPX gained 8.49 points, or 0.32 procent, to Two,659.99 and the Nasdaq Composite .IXIC added 35.00 points, or 0.51 procent, to 6,875.08.
Gains ter the energy .SPNY and technology .SPLRCT indexes helped boost Wall Street. CenturyLink ( CTL.N ) rose 8.Legitimate procent after the telecom provider signed a 5-year contract with the Commonwealth of Pennsylvania.
MSCI&rsquo,s gauge of stocks across the globe .MIWD00000PUS gained 0.38 procent.
&ldquo,There&rsquo,s somewhat of an enthusiasm that global growth is more synchronized than it&rsquo,s bot ter a long time, and it&rsquo,s synchronized te the right direction,&rdquo, said Scott Wren, a senior global equity strategist at Wells Fargo Investment Institute te St. Louis, Missouri.
MSCI’s emerging market stock index .MSCIEF rose 0.83 procent. Its broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 0.81 procent higher, while Japan’s Nikkei .N225 rose 0.56 procent.
The pan-European FTSEurofirst 300 index .FTEU3 lost 0.01 procent.
British shares rose on a weaker pound, rising oil prices and growing confidence ter the financial sector. The blue-chip FTSE 100 .FTSE closed 0.8 procent higher.
Rente te the surging bitcoin and opening of futures trading continued to fuel bets on cryptocurrency-related stocks, many of which have risen exponentially te value te the past three months.
Bitcoin futures leaped more than 20 procent te the U.S. debut on Sunday. The spot price quoted by Bitstamp showcased one Bitcoin up 15.34 procent at $16,944.04. BTC=BTSP
TREASURY PRICES NEAR Vapid
U.S. Treasury debt prices were near plane after rallying earlier te the session on safe-haven buying after the Fresh York blast.
Benchmark 10-year notes US10YT=RR last fell Two/32 te price to yield Two.3885 procent, from Two.383 procent late on Friday.
The 30-year unie US30YT=RR wasgoed last almost vapid te price to yield Two.7746 procent, from Two.775 procent late on Friday.
The U.S. dollar rebounded ahead of the Federal Reserve&rsquo,s two-day policy meeting that completes on Wednesday. The U.S. central handelsbank is widely expected to raise benchmark rente rates.
Tepid wage growth ter Friday&rsquo,s jobs report for November added to concerns that inflation will remain benign and complicate the Fed&rsquo,s capability to execute further hikes.
The dollar index .DXY rose 0.03 procent, with the euro EUR= up 0.07 procent to $1.1772.
Oil prices rose, reversing earlier losses, after a North Sea pipeline shut for repairs and investors focused on commodities following the Fresh York blast.
U.S. crude CLcv1 rose 1.12 procent to $58.00 vanaf barrel and Brent LCOcv1 wasgoed last at $64.Sixty-nine, up Two.03 procent.
Reporting by Stephanie Kelly ter Fresh York, Extra reporting by Abhinav Ramnarayan, Fanny Potkin, Julien Ponthus and Helen Reid te London, Karen Brettell and Sinead Carew te Fresh York and Sruthi Shankar and Rama Venkat Raman te Bengaluru, Editing by Daniel Bases and James Dalgleish
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