7/22, 11:07 AM (Source: TeleTrader)
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Stocks on Wall Street rise slightly in premarket

Equities on exchanges in New York were modestly in the green on Monday before the opening bell as market participants were bracing for the busiest part of the earnings season and started the countdown to the meeting of the United States Federal Reserve. Policymakers have hinted they would lower interest rates in the update due on July 31 while investors have been split in bets between a standard move lower by 25 basis points and a 50-point cut. Lower borrowing costs reduce profits from bonds and ease funding, which normally benefits the corporate sector.

European shares also moved higher, after a lackluster start. The improvement in sentiment was capped by tensions in the Middle East between the Western powers led by the US and the United Kingdom on the one side and Iran on the other. The acceleration in the rise of oil prices has helped some of the stocks higher.

The euro was marginally in the red at $1.12162 at 5:05 am ET. The pound dipped 0.31% to $1.24638 and the dollar gained 0.15% to ¥107.876. Gold rose only 0.06% to $1,426 per ounce. The Dow Jones rose 0.17% in the premarket. The Nasdaq 100 strengthened 0.26% and the S&P 500 index climbed 0.21%.

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