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Global Stocks: U.S. stock indices rose
U.S. stock indices rose on Tuesday supported by gains in oil prices.
The Dow Jones Industrial Average added 156.41 points, or 0.9%, to 17,524.91. The S&P 500 climbed 21.47 points, or 1.1%, to 2,043.4 (all of its 10 sectors closed higher; the energy sector gained 2.9%). The Nasdaq Composite rose 43.13 points, or 0.9% to 4,995.36.
Data showed that U.S. consumer prices were unchanged in November due to declines in gas prices. Nevertheless the core inflation showed some strengthening amid rising services prices. The CPI was unchanged in November on a seasonally adjusted basis after a 0.2% increase in October. The so-called core index rose by 0.2% just like in the two previous months. Both readings were in line with expectations.
This morning in Asia Hong Kong Hang Seng rose 2.07%, or 439.65, to 21,714.02. China Shanghai Composite Index climbed 0.38%, or 13.32, to 3.523.67. The Nikkei jumped 2.52%, or 467.88, to 19,033.78.
Asian indices advanced following gains in U.S. stocks. Analysts say that rising stock prices ahead of the Fed's interest rate decision signal that market participants are convinced that the rate hike will take place.
Japanese stocks rose with financial companies leading the gains. Shares of exporters also climbed.
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