US stocks edge up, shrugging off New York explosion

About 20 minutes into trading, the Dow Jones Industrial Average was up slightly at 24,334.26. — Reuters picAbout 20 minutes into trading, the Dow Jones Industrial Average was up slightly at 24,334.26. — Reuters picFRANKFURT, Dec 11 — stocks edged higher early today as investors shrugged off an explosion near Times Square that resulted in a handful of injuries, none life-threatening.

New York Mayor Bill de Blasio said the explosion, which took place at the Port Authority bus terminal, was an “attempted terrorist attack.” Four people were injured in the blast, firefighters said.

“Reports of an explosion at the Port Authority bus terminal in New York City sent equity futures slightly lower this morning, but they have since returned to their previous levels,” Briefing.com said shortly before the market opened.

About 20 minutes into trading, the Dow Jones Industrial Average was up slightly at 24,334.26.



The broad-based S&P 500 added 0.1 per cent to 2,653.01, while the tech-rich Nasdaq Composite index gained 0.2 per cent to 6,851.28.

The Dow and S&P 500 finished at records Friday following a strong US jobs report and in anticipation of enactment of a major tax cut plan that is moving through Washington.

Analysts are looking ahead to a series of  policy meetings this week, including  the two-day gathering at the Federal Reserve that culminates Wednesday with a policy statement and news conference by Fed Chair Janet Yellen.

The US central bank is widely expected to raise interest rates for the third time this year.

Other key data releases this week include the US retail sales report for November, which includes a portion of the important holiday shopping season. — AFP

Source: The Malay Mail Online





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