Off the wire
• Chinese premier calls for concerted efforts to implement Iran nuclear deal  • Interview: Essential responsibility of U.S. for refugee crisis: German expert  • Bayern's title dreams with priceless Mueller  • China files 20 pct more int'l patent applications  • Interview: China-U.S. ties vital to peace, prosperity in Asia: Cambodian scholar  • Cecil the lion killer faces fresh charges in Zimbabwe  • Belgian frigate to join operation against Mediterranean people smuggling: ministry  • China, Iran consider lifting ties to "strategic partnership"  • China's media industry pledge self-discipline on journalistic ethics  • Cultural exchanges expand among countries along Silk Road  
You are here: 　 Home

U.S. stocks open higher despite downbeat data

Xinhua, September 15, 2015 Adjust font size:

U.S. stocks opened higher Tuesday as Wall Street weighed a batch of soft economic reports ahead of the Federal Reserve's key policy meeting.

The Commerce Department announced Tuesday that advance estimates of U.S. retail and food services sales for August increased 0.2 percent from the previous month to 447.7 billion U.S. dollars, slightly below market consensus of a 0.3-percent gain.

U.S. industrial production decreased 0.4 percent in August, exceeding market expectations of a 0.2-percent decline, reported the Federal Reserve Tuesday.

Meanwhile, the September 2015 Empire State Manufacturing Survey indicates that business activity declined for a second consecutive month for New York manufacturers, said the New York Fed Tuesday.

The headline general business conditions index came out at minus 14.7, well below market estimates of minus 0.5.

Traders also keep a close eye on the Fed's highly-watched two-day policy meeting scheduled to begin on Wednesday, when the U.S. central bank could raise interest rates for the first time in more than nine years.

Some analysts thought the soft data could give the Fed an excuse to postpone rate hikes.

Shortly after the opening bell, the Dow Jones Industrial Average rose 45.63 points, or 0.28 percent, to 16,416.59. The S&P 500 added 5.25 points, or 0.27 percent, to 1,958.28. The Nasdaq Composite Index gained 11.81 points, or 0.25 percent, to 4,817.58.

On Monday, U.S. stocks closed lower as investors remained cautious ahead of the Fed's policy meeting. Endi