USA shares to open higher as OPEC signals success curbing oil supply

14 Février, 2017, 00:34 | Auteur: Stephane Girardot
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Wall Street was in the green on Monday as the major indexes posted new records.

President Donald Trump vowed last Thursday to make a major tax announcement in the next few weeks, rekindling a rally that has stalled amid concerns over his protectionist stance and lack of clarity on policy reforms.

"Investors are willing to say the prospects for growth are higher now than they were, and they're not just saying it, they're committing capital", said Jamie Cox, managing partner of Harris Financial Group in Richmond Virginia.

The Nasdaq gained 29.83 (+0.52 percent) to close at 5,763.96, while the S&P 500 finished at 2,328.25, up 12.15 (+0.52 percent) from its open.

The advance put the S&P 500's market capitalisation above the $20 trillion mark for the first time. The industrial sector.SPLRCI gained 0.84 percent.

The S&P 500 is up 89.42 points, or 4.0 percent.

U.S. Treasury yields rose as investors looked to testimony by Federal Reserve Chair Janet Yellen on Tuesday and Wednesday when she gives her semiannual Humphrey Hawkins testimony before lawmakers in Washington.

Notable Stocks: Shares in Apple rose 1 percent to close at a new all-time high after Goldman Sachs boosted its stock price target.

The dollar.DXY was up 0.18 percent against a basket of major currencies, after touching its highest in nearly three weeks, on expectations reflationary policies would stoke economic growth and the possibility the Fed could be more aggressive in hiking interest rates.

The metal last traded at $6,105.85 per tonne, up 0.26 percent on the day after climbing as high as $6,204.

Y jumped 1.2 percent, with banks leading the way. Continued over-supply in the USA threatens the OPEC-Russia deal to cut oil and boost prices. AT&T (T.N) fell 1.1 percent, T-Mobile (TMUS.O) sank 3 percent, Sprint (S.N) fell 1.2 percent.