Wall Street stocks ended the session in higher positions boosted by the financial sector. Investors are expecting the Fed to announce another rate hike at the conclusion of its meeting.
The Dow Jones Industrial Average climbed by 155.44 points, or 0.64 percent, closing at 24,542.47. The S&P 500 was up by 9.12 points, equal to 0.34 percent, and was traded at 2,669.11. The Nasdaq Composite, in contrast, dropped by 1.05 points, 0.02 percent, towards 6,874.03.
The U.S. Labor Department revealed that producer prices in the country went up in November with a rise in gasoline prices and other goods. This led to the largest annual gains in almost six years and to an acceleration in inflation pressures.
In Asia, stocks closed mixed. Nikkei 225 index lost 0.19 percent. South Korea’s Kospi index managed to climb by 0.37 percent. Hong Kong’s Hang Seng Index dropped by 0.12 percent. The Shenzhen Composite went higher by 0.04 percent. Shanghai Composite, in contrast, shed 0.06 percent.
On the commodity market, gold was traded at $1,241 per ounce. The price of gold bullion for immediate delivery is now cut by half which puts its gains at 8% for 2017.
Oil prices climbed higher due to a decrease in U.S. inventories. Last week inventories slumped by 7.4 million barrels, a much sharper decline compared to the expected 3.8 million barrels drop. WTI crude ended the session at 57.5 dollar a barrel after recording 0.6 percent gains. Brent crude was able to climb by 0.8 percent closing at $ 63.84 per barrel.