· The Dow Jones Industrial Average .DJI rose 39.45 points, or 0.18 percent, to 22,370.8, clocking its sixth straight record close. The S&P 500 .SPX gained 2.78 points, or 0.11 percent, to 2,506.65, hitting its fifth record closing high in the last six sessions.
The Nasdaq Composite .IXIC added 6.68 points, or 0.1 percent, to 6,461.32, also squeaking out a record closing high, slightly above its Sept. 13 close.
· The three major U.S. stock indexes edged higher on Tuesday, logging closing records, with financial stocks providing the biggest boost a day ahead of the Federal Reserve’s concluding statement from its two-day policy meeting.
The U.S. central bank is expected to announce when it will begin paring its bond holdings, and while a September interest rate increase is not expected, investors will closely study Fed Chair Janet Yellen’s views on inflation for clues whether the Fed will raise rates in December.
· “It seems the market is holding its breath and waiting for what the Fed has to say regarding the economy and any future interest rate hikes,” said Ryan Detrick, senior market strategist for LPL Financial.
“The market could throw a little bit of a fit if they push (balance sheet reduction) back. It could hurt financials and the overall market might not like the uncertainty,” he added.
If the Fed reduces its balance sheet, investors are betting that would lift yields for longer-term treasuries, which could boost bank profits, Detrick said.
· Asian shares edged down slightly on Wednesday as investors awaited monetary policy news coming at the conclusion of the U.S. Federal Reserve's two-day meeting.
· Japan's Nikkei 225 slid 0.05 percent after surging close to 2 percent on Tuesday.
Reference: Reuters, CNBC
Thai
Eng