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Global Stocks: U.S. stock indices gained
U.S. stock indices edged up on Monday as oil prices climbed despite global supply glut concerns.
The Dow Jones Industrial Average added 103.29 points, or 0.6%, to 17,368.50. The S&P 500 climbed 9.57 points, or 0.5%, to 2,021.94 (9 out of its 10 sectors closed higher). The Nasdaq Composite rose 18.76 points, or 0.4% to 4,952.23.
Investors are waiting for the FOMC meeting. The two-day policy meeting will start later today. According to FedWatch CME Group traders see an 83% probability of a rate hike, which would bring the range to 0.25%-0.50% from 0%-0.25%. Investors are quite sure that the Fed will raise rates this week, that's why they will focus on comments related to the pace of further increases.
This morning in Asia Hong Kong Hang Seng rose 0.27%, or 57.40, to 21,367.25. China Shanghai Composite Index climbed 0.01%, or 0.20, to 3.520.87. The Nikkei fell 1.52%, or 287.41, to 18,596.01.
Asian indices traded mixed. Investors are waiting for Fed interest rate decision.
Japanese stocks fell amid a stronger yen.
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