NEW YORK, NY / ACCESSWIRE / December 13, 2017 / The Dow and the S&P 500 closed at new record highs on Tuesday as the Federal Reserve's two-day policy meeting kicked off. The Dow Jones Industrial Average gained 0.49 percent to close at 24,504.80, while the S&P 500 Index rose 0.15 percent to close at 2,664.11. The Nasdaq Composite Index declined 0.19 percent to close at 6,862.32. The Fed is scheduled to announce their decision on an interest rate hike at 2 p.m. ET on Wednesday.

"As the rate hike tomorrow is highly priced in, it's not the decision itself that will be important, but how the Fed's views the economy. At the moment, markets are less optimistic about growth and inflation than the Fed," said Kjersti Haugland, chief economist at DNB, according to MarketWatch.

RDI Initiates Coverage on:

Freeport-McMoRan, Inc.
https://rdinvesting.com/news/?ticker=FCX

VALE S.A.
https://rdinvesting.com/news/?ticker=VALE

Freeport-McMoRan's stock moved 4.59% higher Tuesday, to close the day at $15.71. The stock recorded a trading volume of 24,138,467 shares, which was above its three months average volume of 16,175,262 shares. In the last year, Freeport-McMoRan's shares have traded in a range of 11.05 - 17.06. The share price has gained 42.17% from its 52 week low. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $14.33 is greater than its 200-day moving average of $13.77. Shares of the company are trading at a Price to Earnings ratio of 21.26. Shares of Freeport-McMoRan have gained roughly 9.02 percent in the past month and are up 19.11 percent year-to-date.

Access RDI's Freeport-McMoRan, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=FCX

On Tuesday, shares in VALE recorded a trading volume of 29,650,844 shares, which was above the three months average volume of 27,824,535 shares. The stock ended the day 2.03% higher at 11.06. The share price has gained 48.06% from its 52-week low with a 52-week trading range of 7.47 - 11.72.The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $10.42 is greater than its 200-day moving average of $9.83. Shares of the company are trading at a Price to Earnings ratio of 16.19. Shares of VALE have gained roughly 9.83 percent in the past month and are up 45.14 percent year-to-date.

Access RDI's VALE S.A. Research Report at:
https://rdinvesting.com/news/?ticker=VALE

Our Actionable Research on Freeport-McMoRan, Inc. (NYSE: FCX) and VALE S.A. (NYSE :VALE) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com