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US stocks open higher, extending rally
NEW YORK, March 19, 2019 (BSS/AFP) – Wall Street stocks rose early Tuesday,
continuing an upward trend, following strong economic reports from Germany
and Britain.
About 10 minutes into trading, the Dow Jones Industrial Average was at
26,044.58, up 0.5 percent.
The broad-based S&P 500 also gained 0.5 percent to 2,844.75, while the
tech-rich Nasdaq Composite Index advanced 0.4 percent to 7,743.17.
The S&P 500 has added almost four percent since March 8.
Data released Tuesday showed the British unemployment rate hit a 44-year
low despite a broader economic slowdown as Brexit looms.
Also, the closely-watched ZEW institutes monthly investor confidence index
surged in March as fears of a hard Brexit receded and progress in US-China
trade talks soothed nerves.
The two reports “helped stoke the narrative that the global economy is
bottoming (or has bottomed),” said Briefing.com analyst Patrick O’Hare, who
also cited favorable central bank policies as a support for the latest upturn
in stocks.
The Federal Reserve kicks off a two-day policy meeting later Tuesday. The
US central bank is expected to keep interest rates unchanged and could signal
it anticipates fewer interest rate hikes in 2019.
BSS/AFP/SR/1845 HRS