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

EURUSD Hourly

EURUSD Hourly

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.

UN not reaching its potential - Donald Trump
This argument has followed Trump into the White House and the President echoed it on Monday during an event on reforming the body. President Trump made his first presidential appearance at the United Nations about one thing above all else: reform.

Clinton won't rule out questioning Trump's legitimacy if deeper Russian Federation interference proven
She and many of her defenders insist Clinton's comment lost her votes in coal country because it was taken out of context. You might ask yourself, "How is this interview any different from Clinton's other recent interviews? ".

Amazon just announced a new tablet with Alexa that costs only $150
The Fire tablet runs a modified version of Android that Amazon has bolstered with a handful of nice, company-specific features. It features dual stereo speakers powered by Dolby that provide 360-degree sound and offers up to nine hours of playback.

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.

Latest News