Breaking News

You are here » Indian-Commodity  :  International & World Stock  :  US markets closed higher for second straight session

13-Feb2018

US markets closed higher for second straight session

The US markets closed higher for a second straight session on Monday, as investors waded back into the market, hunting for bargains amid signs of stability after one of the worst weeks for equity benchmarks in two years. There was no major economic data on the calendar Monday, but the data highlight of the week will be January consumer price inflation, due Wednesday. The dollar slipped back as global equity markets showed some sign of stability after the recent rout, reviving risk appetite and putting the US currency on the defensive on worries about its receding yield advantage.

Meanwhile, investors digested the newly released plan by the Trump administration to revamp the nation's infrastructure against the backdrop of mounting worries about accelerating inflation. President Donald Trump unveiled a long-awaited infrastructure plan designed to encourage spending on improvements by states, localities and private investors, but it faces an uphill battle in Congress and he made remarks that called into question how hard he will fight for it. The plan, which Trump called the biggest and boldest infrastructure investment in American history, would reshape how the federal government funds infrastructure projects. It also seeks to sweep away environmental and other regulatory hurdles to new projects. The Trump administration unfurled a plan to spend $200 billion over 10 years on grants to states and cities to improve highways, airports, bridges and tunnels and other infrastructure. Under the proposal, the Interior Department could tap some funds from energy and mineral extraction to pay for infrastructure improvements on government-owned land such as national parks. The proposal came under immediate fire from Democrats who said it would put a huge burden on local governments without providing enough federal dollars, and administration officials acknowledged that it faces a tough road ahead.

The Dow Jones Industrial Average added 410.37 points or 1.70 percent to 24,601.27, the Nasdaq gained 107.473 points or 1.56 percent to 6,981.96, the S&P 500 edged higher by 36.45 points or 1.39 percent to 2,656.00.



Related News

View all news

Asian markets trade mostly in green in early deals

Asian markets are trading mostly in the green in early deals on Wednesday, with sentiments boosted by Wall Street's rise and a record intraday high for the S&P 500 index on Tuesday, but fragile......

US markets close higher on Tuesday

The US markets ended higher on Tuesday, registering a fourth straight gain on the back of optimism over US-China trade talks, even though President Donald Trump said he does not expect much progress from......

All Asian counters trade in green in early deals on Tuesday

All the Asian counters are trading in green in early deals on Tuesday, supported by hopes Beijing and Washington would dial back trade hostilities, though comments from the US president about the yuan......

Top News

View all news

IDBI Bank sells 3.90% stake in NSDL

IDBI Bank has sold 15,60,000 equity shares constituting 3.90% of the paid up capital of National Securities Depository (NSDL) on August 21, 2018.IDBI Bank is the youngest, new generation public sector......

Motilal Oswal Financial Services transfers lending business to WOS Company

Motilal Oswal Financial Services has transferred the lending business by way of a slump sale on a going concern basis, to its wholly owned subsidiary (WOS), Motilal Oswal Capital Markets (MOCML) as contemplated......

ICRA upgrades ratings assigned to Sterlite Technologies' NCDs

Credit rating agency, ICRA has upgraded its rating on the non-convertible debenture (NCDs) programme and long-term rating for the line of credit (LOC) of Sterlite Technologies to 'AA' from 'AA-' and reaffirmed......