US, European stock markets climb ahead of Fed meeting; oil hits peak
New York — Major US and European stock indexes advanced on Tuesday, ahead of a meeting of US Federal Reserve policymakers, while oil prices reached $65 per barrel earlier in the day for the first time since mid-2015. The earlier jump in oil prices boosted energy-heavy European stock indexes, with the pan-European STOXX rising 0.53%. The Fed, whose two-day policy meeting ends Wednesday, is widely expected to raise benchmark interest rates. "Investors are presented with an interesting (US) economic outlook. They are looking at a positive set of economic data in an improving economy, with some hesitation with regards to Federal Reserve, given the change in leadership," said Andre Bakhos, managing director at Janlyn Capital in Bernardsville, New Jersey. The Dow opened higher, boosted by Boeing shares that touched a record peak after the company said it would raise its quarterly dividend and replace its existing share buyback program. The Dow Jones Industrial Average rose 103.23 points, ...
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