- Fed plans to keep interest rates low for a considerable time
- Tiffany&Co. and Micron rise following results

Dow Jones Industrials: 0.37%
Nasdaq Composite: 0.45%
S&P 500: 0.42%

The main US equity averages are now being called to start the day with average gains of approximately 0.3 per cent.

That comes despite the current tensions in Cyprus and the weak reading on German business confidence this morning.

Acting as a backdrop, Federal Reserve Governor Sarah Raskin has said the central bank plans to keep interest rates low for a considerable time. The policy-maker also highlighted the need to address the low wages from which many Americans are now suffering.

Out on the company front, shares of luxury jewellery retailer Tiffany&Co. have opened considerably higher following the announcement of a large increase in sales in the Asia Pacific region.

Chipmaker Micron is also moving higher after unveiling better than expected sales figures this afternoon for its second quarter.

10 year US Treasury yields are now flat, at 1.91%.

Front month West Texas crude futures are now rising by 0.41% to the $92.83/barrel level on the NYMEX.

AB

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