U.S. stock-index benchmarks on Monday edged slightly higher as investors awaited news of further monetary-policy action from a number of central banks later this week and next.
The Dow Jones Industrial Average climbed 7 points, or less than 0.1%, at 26,808, the S&P 500 index rose 0.2% to 2,984, while the Nasdaq Composite Index gained 0.2% to 8,119. Investors are hoping for easier-money policy from the Fed, which convenes a two-day policy meeting Sept.17-18 and is expected to slash rates by a quarter-of-a-percentage point after the jobs report on Friday came in weaker than expected, raising questions about the health of the U.S. economy and the need for further accommodations from the central bank to extend expansion in a record 11th year.
Before that, the European Central Bank is expected to roll out stimulus plans on Thursday. The yield on 10-year U.S. Treasury rate rose to 1.62% on Monday, from 1.552% on Friday. Yields rise when prices fall. In corporate news, share of Shares in AT&T Inc. were in focus after activist investor Elliott Management disclosed a $3.2 billion stake in the company and released a letter to the board laying out a plan to boost the company's share performance.
Source : Marketwatch