Wall Street opens mostly higher

Economies.com
2017-10-23 14:49PM UTC

US stock indices opened the week mixed but still near record highs, as the third-quarter earnings season for major American banks and corporations carries on in earnest, amid a lack of data from the US, the world's largest economy, and ahead of GDP growth data for third quarter later this week. 

 

Investors are still optimistic on the chances of passing tax reforms championed by President Donald Trump and his Republican party, after the Senate passed the budget bill for 2018 last week, underpinning Wall Street. 

 

Otherwise, US treasury bond yields continued to surge, with two-year bond yields hitting nine-year highs, while 10-year bond yield rose 6 basis points to 2.38%. 

 

Markets are pricing in a probable third interest rates hike by 26 basis points later this year, while President Donald Trump is expected to choose a policy hawk as the new Federal Reserve Chair.

 

As of 03:36 GMT, Standard and Poor's 500 rose 0.02%, or 0.42 points to 2,575.63, while Dow Jones edged up 0.15%, or 34.18 points to 23,362.81. 

 

Tech-heavy NASDAQ advanced 0.19%, or 12.88 points to 6,616.17. 

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