AM Report 21 Mar 18: investors prepare for the Fed will keeping an eye on social stocks

US sharemarkets rebounded on Tuesday as the energy sector (+0.8%) increased on the back of rising oil prices. Financial stocks (+0.2%) rose as investors positioned for an expected interest rate hike by the US Federal Reserve on Wednesday. Facebook shares fell 2.6% on reports that the US Federal Trade Commission was investigating the company over its use of personal data. Shares of Snap (-2.6%) and Twitter (-10.4%) both tumbled on technology sector weakness. The Dow Jones index closed up by 116 points or 0.5%. The S&P 500 index rose by 0.2%. The Nasdaq rose by 20 points or 0.3%.

 

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