Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

GLOBAL MARKETS-U.S. stocks rise, bonds fall as investors await Fed minutes

Published 19/11/2015, 03:18 am
© Reuters.  GLOBAL MARKETS-U.S. stocks rise, bonds fall as investors await Fed minutes
EUR/USD
-
XAU/USD
-
US500
-
FCHI
-
DJI
-
AIRP
-
AAPL
-
DX
-
GC
-
LCO
-
CL
-
IXIC
-
DE10YT=RR
-
US10YT=X
-
FTEU3
-
DXY
-

* Oil boosted by smaller than forecast U.S. stockpile growth

* Stocks drop in Europe after strong rally a day earlier

* Apple (O:AAPL), energy stocks lead gains on Wall St

* Dollar treads water after hitting 7-month high (Adds U.S markets opening; changes dateline from LONDON)

By Lewis Krauskopf

NEW YORK, Nov 18 (Reuters) - U.S. stocks rose and Treasury prices fell on Wednesday as investors awaited minutes for the U.S. Federal Reserve's latest meeting amid expectations of an impending rate hike.

The major European stock index fell, after a strong rally on Tuesday, as security issues remained a focus for investors.

A woman suicide bomber blew herself up and another militant died when police raided an apartment in a Paris suburb seeking suspects in last week's attacks in the French capital that killed 129 people.

"All eyes are on the Fed, while geopolitical concerns remains on the minds of the investors," said Peter Cardillo, chief market economist at First Standard Financial in New York.

The Dow Jones industrial average .DJI rose 102.78 points, or 0.59 percent, to 17,592.28, the S&P 500 .SPX gained 11.52 points, or 0.56 percent, to 2,061.96 and the Nasdaq Composite .IXIC added 31.71 points, or 0.64 percent, to 5,017.72.

The pan-European FTSEurofirst 300 index .FTEU3 , which had risen 2.6 percent on Tuesday, fell 0.3 percent, with industrial gas company Air Liquide AIRP.PA off sharply after announcing an expensive-looking acquisition. The French CAC 40 index .FCHI fell 0.7 percent.

An index of major global markets rose 0.2 percent.

"The indices are treading water today ... there seems to be a little bit of trepidation at the moment because of what's been going on in Paris this morning and overnight," said Augustin Eden, research analyst at Accendo Markets.

The U.S. dollar .DXY edged up 0.1 percent against a basket of currencies after hitting a seven-month high on Tuesday, while the euro EUR= rose 0.05 percent against the greenback. The dollar index has risen more than 6 percent in the past month.

Due at 2:00 p.m. ET (1900 GMT), the minutes of the Fed's meeting are expected to give investors clues on the central bank's reading of the economy. Meanwhile, two Fed officials expressed confidence that they will be able to pull off a relatively smooth interest-rate hike when the time comes.

"It will be a case of range-trading going into the Fed minutes. We could see some positions being pared, with the dollar having risen in the past few weeks," said Jeremy Stretch, head of currency strategy at CIBC World Markets.

U.S. housing starts in October fell to a seven-month low as single-family home construction in the South tumbled, but a surge in building permits suggested the housing market remained on solid ground.

Benchmark 10-year Treasuries notes US10YT=RR were down 8/32 in price for a yield of 2.2887 percent.

German Bunds DE10YT=TWEB yields slipped 1.5 basis points to 0.517 percent.

"There is a bit of a safety bid for core bonds from the nervous energy around events in Paris," said Matthew Cairns, fixed income strategist at Rabobank.

Oil prices rebounded on reports of falling stockpiles and rising U.S. refinery activity, after declines a day earlier.

Brent crude futures LCOc1 were up 0.6 percent at $43.84 per barrel. U.S. crude futures CLc1 were up 0.4 percent at $40.83 a barrel. U.S. data showed a smaller than forecast build in crude inventories.

Zinc, lead and nickel fell, to around their lowest points in five to seven years, as fears persisted over waning demand in top metals user China.

Spot gold slipped 0.1 percent, trading around 2010 lows.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.