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Stocks- Wall Street Flat After Explosion in New York Commuter Hub

Published 12/11/2017, 10:24 AM
Updated 12/11/2017, 10:24 AM
© Reuters.  Wall Street edged forward after the opening bell.

© Reuters. Wall Street edged forward after the opening bell.

Investing.com – Wall Street inched forward slightly on Monday after an explosion at the Port Authority in New York City, a busy commuter center.

The S&P 500 inched forward two points or 0.09% as of 10:21 AM ET (15:21 GMT) while the Dow composite was up 13 points or 0.05%. Tech heavy NASDAQ Composite rose 12 points or 0.19%.

An explosion hit New York's Port Authority Bus Terminal on Monday morning. One suspect was injured and in custody while three others were injured, police said. The device used has not been identified yet.

Tech stocks were the biggest gainers in early morning trading, with Apple (NASDAQ:AAPL) rising 0.32% and luxury car maker Tesla (NASDAQ:TSLA) surging 1.88% while social media app Snap Inc (NYSE:SNAP) increased 2.19% and Chinese e-commerce firm Alibaba (NYSE:BABA) up 1.17%.

Meanwhile General Electric (NYSE:GE) slipped down 0.40% while semiconductor Micron Technology Inc (NASDAQ:MU) fell 0.22% and Valeant Pharmaceuticals (NYSE:VRX) decreased 0.53%.

Bitcoin will be on investors minds today, after the cryptocurrency started trading on the CBOE Futures Exchange on Sunday. The new Bitcoin Futures surged over 20% within hours of launching, causing a temporary outage to the trading website. The futures price has already surged to over $17,000.

Meanwhile investors are looking ahead to the Federal Open Market Committee meeting, which starts on Tuesday. An interest rate hike is highly anticipated.

Stocks in Europe were mostly down. In Germany the DAX slumped 20 points or 0.15% while France’s CAC 40 decreased seven points or 0.13% and in London the FTSE 100 surged 57 points or 0.78%. Meanwhile Spain’s IBEX 35 fell 15 points or 0.15% and the pan-European Euro Stoxx 50 lost ten points or 0.29%.

In commodities, gold futures gained 0.10% to $1,249.70 a troy ounce while crude oil futures rose 0.33% to 57.55 a barrel. The U.S dollar index, which measures the greenback against a basket of six major currencies, fell 0.16% to 93.69.

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