Xinhua
16 Sep 2020, 02:21 GMT+10
NEW YORK, Sept. 15 (Xinhua) -- U.S. stocks finished higher on Tuesday as Wall Street paid close attention to a key meeting by the Federal Reserve.
The Dow Jones Industrial Average rose 2.27 points, or 0.01 percent, to 27,995.60. The S&P 500 climbed 17.66 points, or 0.52 percent, to 3,401.20. The Nasdaq Composite Index jumped 133.67 points, or 1.21 percent, to 11,190.32.
Shares of big U.S. tech names such as Amazon, Facebook, Netflix and Google-parent Alphabet all closed higher.
Eight of the 11 primary S&P 500 sectors moved higher, with communication services and real estate up 1.72 percent and 1.39 percent, respectively, outpacing the rest. Technology advanced 1 percent. Financials, however, slipped 1.36 percent, the worst-performing group.
U.S.-listed Chinese companies traded mostly higher, with six of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.
The U.S. central bank kicked off its two-day policy meeting on Tuesday. Investors awaited reassurance from the Federal Reserve that monetary policy will remain accommodative for the foreseeable future.
"One of the highlights of this week Fed's policy meeting is likely to be greater clarity on the implementation of the shift towards an average inflation target," analysts at UBS said in a note Tuesday.
"The move will make it easier for the Fed to tolerate moderately higher levels of inflation before tightening policy," they said.
Market sentiment also got a boost after data showed China's economic recovery continued picking up steam last month, with major economic indicators further improving as the country's efforts to boost growth amid the COVID-19 slowdown gradually paid off.
Get a daily dose of San Jose Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to San Jose Sun.
More Information(Photo credit: Wendell Cruz-Imagn Images) Cody Bellinger hit three homers for the first time in his career and drove in six runs,...
(Photo credit: Neville E. Guard-Imagn Images) Willy Adames drove in three runs with a triple and a home run, Dominic Smith added...
(Photo credit: Ed Szczepanski-Imagn Images) Alejandro Kirk and Nathan Lukes each drove in two runs during a six-run fifth inning...
(Photo credit: Kirby Lee-Imagn Images) Pinch-hitter Travis d'Arnaud singled in Logan O'Hoppe from second with one out in the bottom...
(Photo credit: Matt Marton-Imagn Images) Mike Tauchman delivered a game-ending infield single in the 11th inning and Lenyn Sosa homered...
(Photo credit: Denny Medley-Imagn Images) Mark Vientos laced a go-ahead, three-run double in the eighth inning, Franciso Lindor added...
REDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...