Us Stock On Record

Discussion in 'Trading' started by bapunagar, Oct 25, 2006.

  1. US stock market raise pushing the Dow Jones Industrial Average to the eighth record high in two weeks, high oil prices motivated the oil producers and the estimation of profit made by General Motors Corp, Nucor Corp US second largest steel producers played a major role in sending the market to record high. Nucor increased $6.47, or 12 % to $61.58. The company posted record third-quarter profit as demand and prices rose. A group of material producers had the second-best performance in the S&P 500. The market's advance was limited as investors waits for tomorrow’s interest-rate decision by the Federal Reserve

    Federal Reserve policy makers began a two-day meeting yesterday in which they are expected to leave interest rates unchanged at 5.25 % for the third straight time. Technology shares fell 0.8 % for the biggest decline among 10 industry groups in the S&P 500.