US blue chips moved higher on Wednesday

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Source: Dukascopy Bank SA

US blue chips index ended Wednesday's session on the positive note on encouraging  news for Asia and US property market. The Bank of Japan expanded its asset-purchasing program as a part of its easing measures. Meanwhile, US existing home sales approached two-year high in August. The Dow Jones Industrial Average Index inched up 0.10% to close at 13,577.96. Six out of nine business sectors included in the index rose. Basic materials and telecommunications poised the biggest gains. El du Pont de Nemours climbed 0.68% on slightly higher commodity prices while AT&T and Verizon Communications advanced 0.27% and 0.80%. At the same time, oil and gas sector dragged the US blue chips index lower. Chevron and Exxon Mobil dropped 0.32% and 1.18% after the EIA reported much larger-than-expected increase in the US crude oil stockpiles last week.

 

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