Home Economy WRAPUP 6-U.S. stocks, dollar sluggish, all eyes on Fed meet this week

WRAPUP 6-U.S. stocks, dollar sluggish, all eyes on Fed meet this week

0

U.S. stocks slipped from record highs on Monday and the dollar softened as investors cashed in on recent gains and turned their focus to the Federal Reserve’s policy meeting, starting Tuesday, for clues on the outlook for monetary policy. But declines in U.S. shares were slim compared with losses in Asia overnight, when MSCI’s broadest index of Asia-Pacific shares outside Japan slumped 2.1% to its lowest since December, hurt by concerns over tighter regulations in China.

In the United States, investors will closely parse comments by Federal Reserve Chair Jerome Powell on how the central bank will start tapering its asset purchases and any remarks he might make about the future of interest rates. By late morning, U.S. shares were vacillating between modest gains and losses. The Dow Jones Industrial Average was flat at 35,062.39, the S&P 500 edged up 0.06% to 4,414.67, and the Nasdaq Composite edged 0.04% lower to 14,830.320.

“Powell will…

Click here for full article…www.devdiscourse.com