Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York Thomson Reuters (Reuters) - Wall Street's main indexes opened higher on Tuesday, led by gains in financial stocks ahead of a near-certain interest rate hike by the Federal Reserve, but declines in Facebook and Oracle weighed on technology shares.
While markets are sure about the quarter-point hike, they are less confident of what the Fed signals next: three hikes this year as previously forecast by policy makers or four.
Investors were also uneasy about Washington's ability to meet a Friday deadline to avert a government shutdown and by the Trump administration's threats to impose import duties on China.
Facebook shares gained 3 percent and provided some relief to the technology sector. The S&P 500 declined 1.4 percent, with tech dropping 2.1 percent.
"It's a general pullback in risk and technology tends to have a higher impact on the market".
There was "no change to 2018 and I think thatâs why you have such a muted reaction", said Aaron Kohli, an interest rate strategist at BMO Capital Markets in NY.
The Dow Jones Industrial Average .DJI rose 98.75 points, or 0.4 percent, to 24,709.66.
A pan-European equity index fell nearly 0.3%, its early weakness accelerating after the WSJ report on China and a tech shares index reversing an early bounce. "But if we see retaliation, and significant trade disruptions, it's a different order or magnitude, could begin to affect global growth forecasts", said Andrew Milligan, head of global strategy at Aberdeen Standard Investments.
Benchmark 10-year note yields increased to 2.936 percent, the highest since March 12, before retracing to 2.894 percent. The yield was just one basis point higher on the day at 0.59%.
Concerns over the imposition of US trade tariffs on metals and against China continue to weigh on financial markets.
Crude oil prices jumped more than 2 percent to $63 per barrel.
The US central bank has raised borrowing costs five times since late 2015.
Shares of Twitter plunged, down 10.3 percent as of 2.22pm in NY, amid concern about increased scrutiny of social media companies and a Bloomberg report that Israel's government is considering taking "legal action" against Twitter for ignoring repeated requests to remove online content that was inciting or supportive of terrorism. U.S. West Texas Intermediate (WTI) crude futures gained $1.63, or 2.6 percent, to settle at $65.17, their highest since February 2. The technological index Nasdaq Composite moved in positive territory by 0.27% to 7,364.30 points.
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The agreement must now be agreed upon by the EU's 27 member states at the European Council summit later this week. The thorny issue will, however, require further talks to be fully resolved, the two sides said.
Special assistant attorney general Paul Barnes argued the state has an interest in protecting maternal health and "unborn life". Lawyer Rob McDuff says the clinic wants a federal judge to impose a temporary restraining order by Tuesday.
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United said it compensated the passengers on that flight for the diversion, although it's unclear how they were compensated. He said the airline would consult independent experts in pet safety and that the airline is not ending the program.
Trump said they will likely get together in the not-too distant future to discuss the arms race, which Mr. Trump's comments drew significant criticism among USA politicians, including by Arizona GOP Sen.
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