Dow, S&P 500 up before State of Union address
NEW YORK (Reuters) - The Dow and S&P 500 closed modestly higher on Tuesday, putting the Dow within striking distance of all-time highs as investors looked ahead to President Barack Obama's State of the Union address.
Based on the latest available data, the Dow Jones industrial average was up 47.77 points, or 0.34 percent, at 14,019.01. The Standard & Poor's 500 Index was up 2.43 points, or 0.16 percent, at 1,519.44. The Nasdaq Composite Index was down 5.51 points, or 0.17 percent, at 3,186.49. (Reporting By Caroline Valetkevitch; Editing by Nick Zieminski)
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The Nifty will stay in a broad band of 7,800-8,200 with an immediate resistance at around 8,050 levels. One should look to selectively accumulate in sectors such as infrastructure, capital goods, cement, power and metals. The outperforming sectors such as pharma, IT and auto ancillaries could take a breather due to international headwinds, writes Ambareesh Baliga. Full Article
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