Financials, Industrials Power S&P, Dow to Record Highs<br />The meeting is unlikely to result in an interest rate increase,<br />but investors will focus on how Fed Chair Janet Yellen views recent inflation readings for clues on the timing of further rate hikes.<br />(Reuters) - Wall Street hit new life highs on Monday powered by financials, technology<br />and industrials stocks even as investors await cues from the Federal Reserve on its future path of monetary policy.<br />A relatively quiet North Korea and U. S. Secretary of State Rex Tillerson’s recent<br />comments on "peaceful solution" also led investors back to riskier assets.<br />I think she (Yellen) will need a little more evidence on the inflation side over the next<br />month or two to have some conviction about moving rates in December," Sanchez said<br />We could be experiencing what’s known as a robust return environment," said Ronald Sanchez,<br />chief investment officer at Fiduciary Trust Company International in New York.<br />However, a stronger-than-expected rise in consumer prices in August triggered a more than 50<br />percent rise in the odds of a December rate hike, according to CME Group’s FedWatch tool.
