Dow on track for 5-session win streak as investors ready for Fed meeting after Trump-Kim summit
U.S. stocks opened with muted gains on Tuesday, but the Dow was on pace for a fifth straight gain, as investors shifted focus from a landmark meeting between U.S. President Donald Trump and North Korean leader Kim Jong Un to a barrage of events, including a trio of central-bank meetings that could influence markets. The Dow Jones Industrial Average rose 32 points, or 0.2%, at 25,357, the S&P 500 index added 0.2% at 2,786, while the Nasdaq Composite Index climbed 0.3% at 7,680.The Federal Reserve’s two-day policy meeting kicks off later Tuesday, with a quarter-point rate increase expected tomorrow afternoon, while the European Central Bank and the Bank of Japan are scheduled to issue updates to their monetary-policy plans on Thursday and Friday, respectively. Early in trade, Wall Street keyed in on Trump’s signing of a document with Kim that he described as a “very comprehensive” agreement that would “take care of a very big and very dangerous problem for the world.” However, industry experts were skeptical, citing a lack of details around the pact. In corporate news, shares of Twitter Inc. was the best gainer among S&P 500 components, up 4.4%, while shares of Seagate Technology PLC , down 2.1%, was the worst performer. This week, social-network company Twitter was included in the S&P 500.