US STOCKS-Financials, energy drive indexes higher; Fed meet eyed

martes 15 de diciembre de 2015 14:05 GYT
 

* Exxon, Chevron up on crude oil price rise

* 3M falls after forecast cut

* Valeant up on distribution deal with Walgreens

* Indexes up: Dow 1.17 pct, S&P 1.24 pct, Nasdaq 1.18 pct (Updates to early afternoon)

By Abhiram Nandakumar and Yashaswini Swamynathan

Dec 15 (Reuters) - The S&P 500 and the Dow were on track for their best two-day run since mid-October as recovering oil prices lifted energy shares and financial stocks rose on a widely expected interest rate hike by the Federal Reserve later this week.

Traders see an 83 percent chance of a rate increase when the Fed ends its two-day meeting on Wednesday, according to the CME Group's FedWatch program, but investors are concerned about the pace of future rate hikes.

"What it comes down to is investors wanting some certainty. If you're going to raise rates, just do it already and give me a clue on what the glide path is going to be," said Matthew Tuttle, chief executive of Tuttle Tactical Management in Stamford, Connecticut.

Bank stocks rose on the expectation of improving interest income from higher rates, with Goldman Sachs' 2.9 percent rise providing the biggest boost to the Dow.   Continuación...