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USA stocks open mixed ahead of Fed statement

21 September 2017, 12:59 | Gina Pena

At midday: Fresh records on Wall Street

Week Ahead: Federal Reserve Meeting Will Dominate

Investors do not expect the central bank to increase interest rate in the meeting but will closely watch Fed Chair Janet Yellen's views on inflation, which remains stuck below the Fed's 2-percent target rate.

Alnylam Pharmaceuticals (ALNY) posted a standout gain after the biopharmaceutical company reported positive trial results for its treatment of a rare genetic disease.

In 3.21pm trading in NY, the Dow Jones Industrial Average rose 0.3 percent, while the Nasdaq Composite Index inched 0.03 percent higher.

In the bond market, treasuries came under pressure on the heels of the announcement from the Fed. Although no change is expected to interest rates, the USA central bank is expected to start laying the foundations to unwind its $4.5trn balance sheet.

Meanwhile, traders have largely shrugged off a report from the National Association of Realtors showing an unexpected decrease in existing home sales in the month of August. Japan's Nikkei 225 Index inched up by 0.1 percent, while Australia'sS&P/ASX 200 Index dipped by 0.1 percent. Economists had expected housing starts to jump by 1.7 percent.

Data showed US homebuilding fell for a second straight month in August as a rebound in the construction of single-family houses was offset by weakness in the multifamily home segment. France's CAC 40 Index increased 0.3 percent, Germany's DAX Index added 0.3 percent, while the UK's FTSE 100 Index climbed 0.5 percent. The sector has risen in seven of the last eight sessions, clocking a 6 percent rise in that time.

Watch America's Got Talent season 12 finale online
I'm going to tell you how I respect you, how much strength you have. "This was a ideal tribute to your dad". Because what you just did was attractive .

Governor Says No to Latest GOP Health Care Bill
He wrote, "I hope Republican Senators will vote for Graham-Cassidy and fulfill their promise to Repeal & Replace ObamaCare. States could also elect to have a Medicaid work requirement, though disabled or pregnant people would be exempt.

Pak PM meets USA vice President today on UNGA sidelines
Other meetings will be with the Jordanian King and leaders of Turkey, Afghanistan, Sri Lanka, Iran, the United Kingdom and Nepal. He will outline Pakistan's positions on key worldwide political, social and development issues of vital concern to the country.

The biggest USA telephone operators, Verizon VZ.N and AT&T T.N , rose more than 2 percent, providing the second- and third-biggest individual stock boosts for the S&P. Export prices had been expected to edge up by 0.2 percent. The index reached its best closing level in two months.

Advancing issues outnumbered declining ones on the NYSE by a 1.36-to-1 ratio; on Nasdaq, a 1.55-to-1 ratio favoured advancers.

Natural gas, gold, and transportation stocks have also moved to the upside on the day, while some weakness visible among computer hardware and semiconductor stocks.

In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Tuesday. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by almost a basis point at 2.234 percent.

The biggest percentage gain was the telecom services sector's .SPLRCL 2.3 percent jump on merger and acquisition speculation.

The major European markets also ended the day roughly flat.



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