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US equities post modest gains

FXStreet (Mumbai) - The US Equity markets have inched modestly higher after a flat opening as the investors expect the Federal Reserve (Fed) to maintain its dovish stance on the interest rates in the US.

The DJIA is trading 0.30% higher at 17056.60 with an advance decline ratio of 24:6. Chevron, ExonnMobil, American Express, United Technologies are the top gainers for the day. Meanwhile, the top losers bracket is filled by DuPont, Nike and General Electric.

Meanwhile, Facebook is trading lower by 5%, after predicting the slowest revenue growth since the first quarter of 2013. Gilead share price is down 1.88% after the third-quarter profits missed the estimates. Elsewhere, the US Steel Corp share price has rallied more than 8% after posting a better-than-expected quarterly earnings report.

DJIA Technical levels

The index has an immediate resistance at 17,015 (Oct. 6 high), above which it can rise to 17,060 levels. On the flip side, the index may fall to 16853, if the immediate support of 16,913 is breached.

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