8 Apr 2015
US Stocks inch higher ahead of FOMC meeting
FXStreet (Mumbai) - Wall street traded on a positive note on Wednesday ahead of the release of the minutes from the Federal Reserve’s latest meeting and first-quarter earnings.
The Dow Jones Industrial Average added 79.58 points, or 0.45%, to 17956.50. The S&P 500 rose eight points, or 0.40%, to 2084.70 and the Nasdaq Composite gained 28.97 points, or 0.59%, to 4939.20.
Investors are likely to wait on sidelines ahead of the Fed’s March 17-18 policy meeting minutes, which will give a look into the debate at the Fed about when to raise interest rates. With no major economic data due for release out of the US today, the market is likely to remain focused on the Fed minutes and corporate earnings.
Alcoa Inc. reports first-quarter earnings Wednesday after the closing bell, unofficially marking the start to the reporting season. As per FactSet survey, analysts expect earnings at S&P 500 companies to fall 4.9% from a year earlier.
A strong US dollar is being cited by analysts as well as the Fed policymakers as a major reason behind the expected decline in the corporate profits in the first quarter and poor economic numbers.
The Dow Jones Industrial Average added 79.58 points, or 0.45%, to 17956.50. The S&P 500 rose eight points, or 0.40%, to 2084.70 and the Nasdaq Composite gained 28.97 points, or 0.59%, to 4939.20.
Investors are likely to wait on sidelines ahead of the Fed’s March 17-18 policy meeting minutes, which will give a look into the debate at the Fed about when to raise interest rates. With no major economic data due for release out of the US today, the market is likely to remain focused on the Fed minutes and corporate earnings.
Alcoa Inc. reports first-quarter earnings Wednesday after the closing bell, unofficially marking the start to the reporting season. As per FactSet survey, analysts expect earnings at S&P 500 companies to fall 4.9% from a year earlier.
A strong US dollar is being cited by analysts as well as the Fed policymakers as a major reason behind the expected decline in the corporate profits in the first quarter and poor economic numbers.