US stocks at new highs as investors await Fed meeting

Markets were mixed on Tuesday.

The S&P 500 edged up 0.1 percent to another record high while the STOXX Europe 600 was flat and Asian markets were mixed.

“With investors still re-evaluating the Federal Reserve’s ability to raise U.S. interest rates in December, attention will be directed towards Janet Yellen and her thoughts on the recent inflation trends in the U.S.,” said Lukman Otunuga, research analyst at FXTM, as the Fed kicked off a two-day monetary policy meeting on Tuesday.

In the meantime, Karyn Cavanaugh, senior market strategist at Voya Financial, said that markets “are paying attention to what they should be paying attention and that is earnings growth”.

Still, with US stocks at all-time highs, Bloomberg reported that “investors holding the priciest ones are starting to get uneasy”.

JC O’Hara, an analyst at FBN Securities Inc., wrote in a note to clients that “there are a few warning signs that have started to appear”.