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Stocks end higher a day after Fed hikes rates



FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid
work on the floor of the NYSE in New York

Thomson Reuters

Stocks rose Thursday, with the S&P 500 recovering from a
four-session losing streak, a day after the Federal Reserve
increased its benchmark interest rate by a quarter percentage
point. The dollar rose to a two-week high, and Treasury yields

Here’s the scoreboard:

Dow Jones industrial

+57.46 (+0.22%)

 2,914.30 +8.33 (+0.29%)

8,041.97+51.60 (+0.65%)

  1. Ahead of a self-imposed NAFTA deadline this weekend,
    the Trump administration looks set to leave Canada

    The US is expected to publish text
    of a bilateral trade agreement with Mexico on

    which Canada could presumably join if
    it makes concessions. Key sticking points include access to
    Canada’s protected dairy market and rules on resolving trade
  2. Italy’s budget rattles European markets.
    Concerns about the ambitious spending plans of the Five
    Star and the League, a new populist government coalition, led
    to a delay in the release of Italy’s 2019 budget. The
    budget-deficit target was settled at 2.4%,
    Reuters reports
    , as officials push for programs like basic
  3. Breaking three months of gains, the Commerce Department
    said a closely-watched measure of US business demand
    unexpectedly fell
    last month.
    Core durable goods
    orders excluding aircrafts, or long-lasting items made in
    US factories, fell 0.5% month-over-month. Other data out
    Thursday showed a slump in exports led the US trade deficit to
    a six-month high in August.
  4. Less than two months ahead of midterms, House
    Republicans are set to pass a
    $631 billion tax-cut
    extension this week. 
    the bill is unlikely to pass the Senate, with some concerned
    efforts to bolster Trump’s $1.5 trillion tax overhaul
    could backfire as the federal deficit races to
    unprecedented heights. 

And a look at the upcoming economic calendar:

  • Canada reports monthly GDP. 
  • The US releases consumer spending numbers and its latest
    consumer-price index reading. 
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