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Dow adds 103 points in late session upward swing

There was some upward momentum on U.S. equity markets overnight, as oil finally snapped its six-day losing streak.The ASX SPI 200 is off seven points to 4914.

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There was some upward momentum on U.S. equity markets overnight, as oil finally snapped its six-day losing streak.

West Texas Intermediate added 2% overnight to settle at US$36.31 a barrel.

By the close the Dow Jones had rallied 103 points to 17,369. The S&P 500 climbed ten points to 2122, while the NASDAQ added 19 points to 4952.

All eyes are on the U.S. Federal Reserve, and their interest rate decision.

By Monday afternoon, the Fed Fund Futures, a tool used to determine the likelihood of a Fed rate rise, suggested there was a 79% chance of an increase.


Gold

Gold came under pressure on Monday, and lost 1% to settle at US$1,064 an ounce in New York.

 

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