US Futures Point to Fresh Record Highs at Start of Fed Week

Even though the Fed's about to reduce their balance sheet, you continue to have incredibly aggressive monetary policy.

USA stocks have been breaching record levels, with the Dow clocking a closing record for the fifth day in a row on Monday and the S&P closing at a record for the second consecutive session.

In fresh deal news, shares of Orbital ATK soared, up 20.1 percent as of 2.09pm in NY after Northrop Grumman said it agreed to buy the missile and rocket maker for about US$7.8 billion in cash.

The Fed meeting, which starts on Tuesday, is expected to yield details on how the central bank will unwind its US$4.2 trillion (S$5.65 trillion) portfolio of Treasuries and mortgage-backed securities, almost a decade after the global financial crisis.

USA stocks were set to push further into record territory on Tuesday, with futures moving cautiously higher as investors eagerly waited for the Federal Reserve meeting to kick off.

The Dow Jones Industrial Average .DJI rose 63.01 points, or 0.28 percent, to 22,331.35, the S&P 500 .SPX gained 3.64 points, or 0.15 percent, to 2,503.87 and the Nasdaq Composite .IXIC added 6.17 points, or 0.1 percent, to 6,454.64.

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Mata should've had an assist when he played Lukaku through in the first half only for the Belgium to fluff his lines. This was Everton's heaviest league defeat at Old Trafford since losing 5-1 in December 1999 under Walter Smith.

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Mr and Mrs Jones, who have been foster parents for nearly 40 years, had taken in up to 300 children including eight refugees. There is no suggestion the couple had any knowledge of or were involved in what happened at Parsons Green tube station.

Financial stocks benefited from a rising US Treasury yields, with the yield on benchmark 10-year notes at 2.222 percent. It seems markets are taking the Fed's quantitative tightening in stride.

The S&P index closed up 3.64 points or +0.15% at 2503.87.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Although no change is expected to interest rates, the United States central bank is expected to start laying the foundations to unwind its $4.5trn balance sheet.

Microsoft shares ended down 0.2 percent while Alphabet was off 0.6 percent, with both stocks seeing a pickup in volume late in the day. With no increased provocation to speak of on the Korean Peninsula, investors are moving out of gold, the yen and US Treasuries in search for higher yielding, more risky assets.

LONDON: The UK's top share index advanced on Monday, rebounding from the previous session's four-month low as shares in financials rose and higher oil prices boosted energy shares, while late comments from Bank of England governor Mark Carney helped cement gains.

Nike, a Dow component, fell 1.68 percent after a slew of price target cuts by brokerages on concerns about intensifying competition from Adidas.

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