The US stock market advance continued Tuesday with consumer discretionary in the lead among sectors. The S&P 500 ended 0.2% higher at 2786.85. , however, slipped less than 0.1% to 25320.73. The index climbed 0.6% to 7703.79. The strengthening accelerated: the live dollar index data show the ICE , a measure of the dollar’s strength against a basket of six rival currencies, rose 0.2% to 93.80 and is up currently. Stock index futures point to mixed openings today.
With a , investors are waiting to see if any changes are made to the dot plot, the for interest rates. data showed inflation rose to 2.8% in May from 2.5% in April, in line with expectations. With expectations building that the US economic growth accelerates to above average 4%-4.5% and inflation data confirming economy is strong, there is a chance more policy makers may see the need for four rate hikes this year instead of three as indicated previously. The is due at 20:00 CET today, and at 20:30 CET starts Fed chair ’s .
ND100 Daily Chart
DAX Little Changed While Major European Indices Fall
European stock indices pulled back Tuesday while Italian and Spanish stocks advanced. The joined ’s slide against the dollar and both currencies are receding currently. The slipped 0.1%. The German lost less than 1 point to 12842.30. France’s fell 0.4% and UK’s lost 0.4% to 7703.81. Indices opened mixed today.
Markets got little support from weak economic data: in June dropped to the lowest level since September 2012, according to the German ZEW think tank. Weekly rose 2.8% in the three months to April in UK when a 2.9% rise was expected.
Asian Indices Retreat Ahead of Fed Decision
Asian stock indices are mostly lower today