US markets end higher, investors eye rates
US stocks indexes edged up on Tuesday while US Treasury yields eased as investors looked for more clues on how soon the Federal Reserve may start cutting interest rates. The Dow Jones Industrial Average rose 0.4 percent to to 38,521, the S&P 500 gained 0.2 percent to 4,954 and the Nasdaq Composite gained 0.1 percent to 15,609. The central government's moves to put a floor under its stock market, boosted Chinese blue-chip stocks more than 3 percent. In New York trading, the iShares China large-cap exchange-traded fund rallied as well as the Golden Dragon China index. The US dollar weakened slightly but stayed close to its highest level in nearly three months in the wake of recent strong economic data and the Fed's recent hawkish stance on rates. Traders have pushed back expectations of the Fed's first rate cut to May, after previously pricing in a likely rate reduction in March. "Now traders are wondering if instead of whether we'll get a soft landing or recession, whether we could have no landing or re-acceleration this year," said Matthew Weller, global head of research at FOREX.com. Investors on Wall Street also digested quarterly results and forecasts from US companies. Eli Lilly forecast 2024 profit above estimates. Benchmark 10-year notes fell to 4.09 percent, after reaching an 11-day high of 4.177 percent on Monday. (Reuters)