Mon, 17 Jun 2019

Modest gains recorded on Wall Street Tuesday

By Jay Jackson, US News
19 Dec 2018, 08 GMT+10

NEW YORK, New York - U.S. stocks bounced Tuesday after relentless losses over the previous two trading days.

Many of the gains however evaporated in the final hour of trading. Nonetheless, the major indices all finished in the black.

Of concern to investors and traders, aside from trade issues between the U.S. and China are a meeting of the Federal Reserve, which could see the Central Bank weaken its resolve to keep raising interest rates, continued weakness in oil prices, and a sliding U.S. dollar.

At the close of trading Tuesday, the Dow Jones industrials were up 82.66 points or 0.35% at 23,675.64.

The Standard and Poor's 500 rose 0.22 points or 0.01% to 2,546.16.

The tech-laden Nasdaq Composite gained 30.18 points or 0.45% to 6,783.91.

On foreign exchange markets the U.S. dollar lost ground against the the European currency, finishing the day around 1.1364.

The British pound gained a fraction to 1.2642.

The Japanes yen strengthened to 112.50, while the Swiss franc firmed to 0.9930.

The Canadian and Australian dollars however were sold off, to finish around 1.3460 and 0.7188 respectively. The New Zealand dollar moved strongly higher to close the day Tuesday around 0.6851.

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