The Dow Jones Industrial Average rose 22.92 points to 26,112.53 while the S&P 500 closed 0.1% higher at 2,889.67. The Nasdaq Composite outperformed, rising 0.6% to 7,845.02 as tech shares gained.
Facebook and Netflix climbed 4.2% and 3.2%, respectively, while Amazon advanced 0.9%. Alphabet climbed 0.7% while Apple advanced 0.6%.
“Changes in the post-meeting statement and the updated dots will point in the direction of a cut at the next FOMC conclave at the end of July,” said Doug Peta, chief U.S. investment strategist at BCA Research, in a note. “Against a backdrop of uninspiring global growth, taking out some monetary policy insurance to protect against increasing trade frictions may well be a prudent course of action, especially in a low-inflation environment.”
· European stocks closed marginally higher on Monday as investors awaited this week’s crucial U.S. Federal Reserve meeting.
The pan-European Stoxx 600 finished just above the flatline at the closing bell, with sectors and major bourses pointing in opposite directions.
· Markets in Asia edged up in Tuesday morning trade as investors awaited the start of a closely-watched meeting by the U.S. Federal Reserve, set to kick off later stateside.
Japan’s Nikkei 225 rose fractionally in early trade, as shares of index heavyweights Fast Retailing, Softbank Group and Fanuc were mixed.
Reference: CNBC, Reuters
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