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S&P500 and Dow Jones reach new highs but Nasdaq lower

Last updated: 21:01 12 Dec 2017 GMT, First published: 09:16 12 Dec 2017 GMT

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  • US indices in new record highs

  • Fed starts two -day meeting

  • Interest rate decision in focus 

CLOSER

Some US stocks, as foreseen, ended at record highs on Tuesday.

The Dow Jones and S&P 500 reached new peaks on the day while the tech sector lagged.

The Dow Jones  added over 118 points at 24,504, while the S&P 500 added 4.12  to stand at 2,664.

The Nasdaq index shed 12.76 at 6,862.

In Toronto, the TSX added 10.52 points at 16,114.

The central bank’s Federal Open Market Committee (FOMC) is widely expected to announce its third and final interest-rate hike of 2017 tomorrow (Wednesday), but traders are also keen to see what may be flagged up about 2018.

 

MID-SESSION

US stocks were mixed at mid-session with the Dow Jones surging but the tech heavy Nasdaq lower.

The Dow Jones industrial Index added over 156 points to stand at 24,542, while the S&P500 added over eight points to 2,668.

The tech heavy Nasdaq index was off 3.16 at 6,871.

In Toronto, the TSX is up over 24 points at 16,127.

Earlier in London, FTSE100 closed higher as energy stocks bolstered the top share index due to the key Forties North Sea pipeline being closed for maintenance.

US crude is down 1.43% to US$57.16 but Brent added over 2% to US$64.69 each.

OPEN

Wall Street shares opened mostly higher as the US central bank convenes for its two day policy meet and bullish sentiment continues.

The Dow Jones Industrial Index added over 83 points at 24,467, while the  S&P 500  added 0.62 at 2,660.

But, going the other way was the  tech heavy Nasdaq, which was down eight points at 6,867.

Meanwhile, Brent crude is down 0.41% to stand at US$57.76 a barrel.

In Toronto, the TSX is up over 19 points to stand at 16,122.

In equities, a notable loser  was Iron Mountain Inc (NYSE:IRM), which lost 6.66% to US$37.99 as the group announced plans to buy the US operations of IO Data Centers LLC for US$1.32bn, including land and buildings in Arizona, New Jersey and Ohio.

As part of the agreement, announced after-hours on Monday, Iron Mountain said it will pay an additional US$60mln based on future performance.

Heading north was Boeing Company (NYSE:BA), which gained almost 3% to US$291.54.

Yesetrday, the quarterly dividend was set to rise 20% to $1.71 a share, Boeing said in a statement, surpassing analyst expectations.

Directors also authorised US$18bn in share buybacks, up from a US$14bn programme they put in place a year ago.

 

PREVIEW

Wall Street shares are seen heading north after a higher close as the two day Fed meeting starts on Tuesday, and an interest rate decision is closely watched.

Dow Futures are up 70 points after the index closed Monday up 56pts at 24,386.  The S&P 500 futures were ahead 2.75, while tech heavy Nasdaq futures are down 2.25 after a positive close yesterday.

It comes as the suspected Manhattan bus terminal suicide bomber Akayed Ullah, 27, was charged with terror offences.

It happened in the early hours of yesterday at the Post Authority Bus Terminal, leaving  Ullah in a serious condition in hospital after suffering burns when a crude device that was strapped to his body exploded.

Three other people suffered minor injuries.

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