Equities Higher as Markets Parse Trump's Tariff Plans, Fed Minutes
US benchmark equity indexes were higher ahead of Tuesday's close following President-elect Donald Trump's latest comments on tariffs and minutes from the Federal Reserve's November policy meeting.
The S&P 500 and the Nasdaq Composite were up 0.5% each at 6,015.2 and 19,139.5, respectively, while the Dow Jones Industrial Average rose 0.2% to 44,826.1. Among sectors, utilities led the gainers. Only materials and energy were in the red.
Trump late Monday vowed to impose a 25% tariff on products imported from Mexico and Canada, as well as an additional 10% levy on Chinese goods, according to media reports.
The US 10-year yield rose 3.9 basis points to 4.30%, while the two-year rate increased one basis point to 4.26%.
Members of the Federal Open Market Committee indicated earlier this month that it would be appropriate to ease monetary policy "gradually" if inflation continues to cool and the labor market remains strong, minutes from the central bank's Nov. 6-7 meeting showed Tuesday.
At the meeting, the FOMC reduced its benchmark lending rate by 25 basis points, following a 50-basis-point cut in September.
Source: MT newswires
