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12/13/2017, 3:35 PM (Source: TeleTrader)
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Stocks in New York rise despite looming rate hike

The Dow Jones Industrials and S&P 500 opened the way for a fourth straight session of record highs on Wednesday, as stocks started with slight gains on Wall Street and Broadway. Investors seemed to have penciled in an interest rate increase, overwhelmingly expected to be announced by the Federal Reserve later in the day. The dollar moved modestly lower against major counterparts, with a somewhat stronger negative bias versus the Japanese counterpart.

The oldest stock gauge added 0.2% in the first transactions, reaching 24,555.43 points. Caterpillar led the way with an advance of 1.27%. The S&P 500 was 0.19% in the green at 2,669.16 points. Western Digital Corp. jumped 3.86% to the top of the chart, after reaching a landmark agreement with Toshiba Corp. to settle a dispute related to the sale of joint chipmaking venture. The Nasdaq 100, dominated by technology companies and healthcare, moved 0.5% higher to 6,414.532, looking to top its own record, set on November 28 with 6,426.039 points. Mercado Libre was the best stock in the index, spiking 6.49%.

The euro ticked 0.09% higher to $1.17605 and the pound rose 0.33% to $1.3365. The greenback fell 0.37% to ¥113.076, after hitting ¥112.955, the lowest point since December 7.

Breaking the News / IT