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1/25/2019, 3:32 PM (Source: TeleTrader)
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US stocks start with gains on hopes Fed hits brakes

Risk appetite increased on Friday and equities on Wall Street jumped at the opening bell, while the dollar pulled back strongly against the euro, the pound and the Canadian counterpart. Investors were hopeful talks between Republicans and Democrats would result in reopening the government, which has been partly shut down for a record 35 days. Ahead of the meeting of the United States Federal Reserve at the end of the month, sentiment was upbeat as central bank officials suggested they would scale down the path for interest rate increases. Precious metals also strengthened substantially.

The Dow rallied 0.79% at the start, led by DowDuPont's 1.86% ascent to the top of the pile, compared to a rise of 0.78% in the Nasdaq 100. Western Digital was its strongest component, spiking 16.67% after vowing to cut costs and boost turnover. Micron followed with a rally of 4.1% and Starbucks was next with 2.51%. A gain of 0.71% was registered in the S&P 500 index. Intel, which has also released earnings, sunk 8.06%.

The euro advanced 0.61% at 9:31 am ET to $1.13763. The pound was up 0.44% at $1.3116. Gold surged 0.86% to $1,292.05 per ounce, looking to breach the $1,300 mark.

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