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US markets closed higher; Fed decision in focus

15 Dec 2015 Evaluate

The US markets closed volatile session higher on Monday, lifted by a rebound in crude-oil prices. The Dow industrials turned a triple-digit loss into a triple-digit gain, while the S&P 500 index dipped below 2,000 before rebounding. Traders may avoid big bets until Wednesday, when the Federal Reserve is widely expected to announce the first rise in US interest rates in nearly a decade. The announcement, scheduled to come out of what’s called the Federal Open Market Committee, will be followed by a news conference with Federal Reserve Chairwoman Janet Yellen. Earlier this month, Federal Reserve chair Janet Yellen told Congress that she saw no reason to delay plans to start a slow-paced series of rate increases in December. On the economy front, consumer sentiment rose for a third straight month, as measured by the closely watched University of Michigan confidence index. The measure hit 91.8, up 0.5 point, in the preliminary December reading. The survey found persistent strength in buying plans and assessments of personal finances, but views of the national economy in the year ahead darkened. All of December’s gain was among households with incomes in the lower two-thirds. It took the 2015 average to 92.9, the highest since 2004.

The Dow Jones Industrial Average added 103.29 points or 0.60 percent to 17,368.50, the Nasdaq was up 18.76 points or 0.38 percent to 4,952.23 and the S&P 500 gained 9.57 points or 0.48 percent to 2,021.94.

The Indian ADRs closed mostly in green; HDFC Bank was up by 1.12%, Dr. Reddy’s Lab was up by 0.42%, Infosys was up 0.29% and Wipro was up by 0.09%. On the other hand, ICICI Bank was down by 0.08%.


About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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