U.S. stocks open higher; Dow, S&P 500 hit records


Wall Street moved higher, paring some gains after rallying to record highs amid optimism about the U.S. economic outlook and corporate profits, as investors eyed a meeting by the Federal Reserve which is set to tighten monetary policy.

In the U.S. stock market, the Dow Jones Industrial Average rose 63.01 points, or 0.28 per cent, to 22,331.35, the S&P 500 gained 3.64 points, or 0.15 per cent, to 2,503.87 and the Nasdaq Composite added 6.17 points, or 0.1 per cent, to 6,454.64.

Nasdaq 100 e-minis were up 5.75 points, or 0.1 percent, in volume of 26 contracts.

A relatively quiet North Korea and U.S. Secretary of State Rex Tillerson's comments on a "peaceful solution" over the weekend eased some concerns for investors. Both the Dow and the S&P 500 hit intraday records in early trading, while the Nasdaq was within a few points of its own.

But an address by US President Donald Trump to world leaders at the United Nations today and elections in Germany and New Zealand will add extra political uncertainty to the mix this week. Even though the Fed's about to reduce their balance sheet, you continue to have incredibly aggressive monetary policy. Although an interest rate hike isn't expected in this week's interest rate meeting, the market is focusing on the Fed's meeting to get clues about the timing of a future interest rate hike.

Around 5.97 billion shares changed hands in the U.S. market, compared with an average of 5.91 billion over the past 20 sessions.

West Texas Intermediate crude futures for October were seen 0.2% higher at $50.18 by 10:15 London time while Brent contracts for November, the benchmark for global prices, were marked 0.27% lower at $55.62. Shares of Google also were down 0.6 per cent.

In Europe the Stoxx 600 Index ended the session with an advance of 0.3 percent from the previous close from the previous close.

The dollar was up 0.5 per cent against the Japanese currency at ¥111.38.

Energy stocks (+0.4%) rose as US crude oil bumped $0.02 higher at $49.91/bbl, a seven-week high.

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