· U.S. stock index futures traded mixed on Wednesday as investors await a policy decision by the U.S. Federal Reserve.
At 03:00 a.m. ET, Dow futures traded 12 points higher, pointing a fairly flat open. Futures in S&P 500 and Nasdaq were trading mixed.
Market focus is largely attuned to global trade developments, amid media reports of U.S. concerns that China is pushing back against American demands in trade talks.
U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin both plan to travel to Beijing next week for another round of negotiations with Chinese Vice Premier Liu He, the Wall Street Journal reported on Tuesday, citing unnamed Trump administration officials.
· European stocks opened slightly lower Wednesday morning, as investors awaited a policy decision by the U.S. Federal Reserve.
The pan-European Stoxx 600 was down around 0.3 percent shortly after the opening bell, with most sectors and major bourses in negative territory.
Market focus is largely attuned to global trade developments, amid media reports of U.S. concerns that China is pushing back against American demands in trade talks.
· Stocks in Asia were mixed Wednesday as investors adopted a cautious stance ahead of the Federal Reserve decision and further news on U.S.-China trade talks, where negotiators remain at odds. Treasury yields held near recent lows.
Shares pared losses, with Japan finishing higher, while most other markets dipped. Hong Kong and Australia saw modest declines. Europe futures signaled a weak open. A rally in U.S. stocks Tuesday fizzled by the close amid concern China is pushing back on American trade demands. Also stalling was a rally in oil, while iron ore slumped in wake of news about a big Brazilian mine potentially reopening. Two-year Treasury yields remain below the top of the Fed’s policy target range amid expectations of a dovish tone from the central bank, while the dollar ticked higher after three days of losses.
· Looking ahead, investors will be poring over the Fed’s Wednesday statement on policy, along with its “dot-plot” projections of interest rates. Market players will be looking for the extent to which officials abandon expectations for further rate hikes, and for any specificity on plans for ending the Fed’s current bond-portfolio run-down.
· Japan’s Nikkei eked out small gains on Wednesday as investors awaited the outcome of a Federal Reserve policy review, while Sony and Nintendo tumbled on news that Google is starting a gaming business.
The Nikkei share average ended 0.2 percent higher at 21,608.92 after trading in negative territory in early trade, but has stayed well above its 25-day moving average of 21,420.48.
Japanese markets will be closed for a public holiday on Thursday.
· Chinese stocks were little changed on Wednesday ahead of the Federal Reserve’s interest rate decision later in the day and on uncertainty surrounding Sino-U.S. trade negotiations.
The Shanghai Composite index was flat at 3,090.64 points. The blue-chip index was also unchanged.
Reference: Reuters, CNBC, Bloomberg
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