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Fed hopes for rate hikes drive Wall Street higher. From Reuters




© Reuters. A Trader Passes Screens Showing Spotify on the NYSE in New York

By Medha Singh

(Reuters) – Wall Street's major indexes climbed on Tuesday as investors approached the end of the year Oncoming stance took the two-day meeting of the US Federal Reserve this week.

The turmoil in economic data this month has fueled market expectations that the Fed may stop further interest rate hikes. The meeting concludes its deliberations with a press conference on Wednesday.

Of particular interest to investors are policy makers' individual interest rate forecasts, as well as details of plans to reduce Fed shares in bonds.

"We are In light of the fact that the Fed did not announce an increase in 201

9 and a reduction in balance sheet outflow, stock trading saw a bit," said Bryan Reilly, managing director at CIBC's US Private Wealth Management in Boston.

The biggest uplift in the benchmark when Amazon.com Inc. (NASDAQ 🙂 rose 1.9 percent.

Supporting markets also included technology stocks.

Rate-sensitive financials rose 0.24 percent, supported by major US lenders. The subsector of the bank gained 0.26 percent, rising for the fifth consecutive session.

At 11:15 ET, it rose 119.12 or 0.46 percent to 26,033.22, beating 26,000 points 4 for the first time since March.

The S & P 500 rose 9.47 Points or 0.33 percent to 2,842.41 and the rose 23.66 points or 0.31 percent to 7,738.13.

Among the eleven major sectors, only defensive utilities and Real Estate Two were in the red, while consumer staples remained unchanged.

Optimism that the Fed will remain less aggressive in raising interest rates, and hopes for a solution to a bitter US-China trade dispute, helped markets recover most of their recent losses last year.

The benchmark S & P 500 is at a five-month high, just 3.1 percent off its record high in September.

Nvidia Corp. Up 3.7 Percent to Increase Philadelphia SE Chipmaker Index by 1.19 Percent Chip Designer Partners with Softbank Group Corp. and LG Uplus Corp. Set Cloud Gaming Servers in Japan and Korea.

Fox Corp slipped 3.5 percent after its Nasdaq debut, marking a new phase in billionaire Rupert Murdoch's media business following the $ 71 billion sale of Twenty-First Century's Fox Inc. Movie and television assets at Walt Disney (NYSE 🙂 Co.

In the advancing issues, there were fewer declines for the NYSE with a ratio of 1.27 to 1. In decreasing issues, there was for the Nasdaq ratio quotes 1.01: 1.

The S & P index posted 31 new highs in the 52-week and no new low, while the Nasdaq recorded 48 new highs and 20 new lows.

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