BEIJING (AP) – Global stocks declined Wednesday ahead of a meeting of U.S. Federal Reserve policymakers, with markets in Japan and Hong Kong closed for a holiday.
KEEPING SCORE: London’s FTSE-100 retreated 0.2 percent to 7,237.13 points and France’s CAC-40 lost 0.3 percent to 5,387.83. Germany’s DAX shed 0.1 percent to 12,490.80. On Tuesday, the CAC-40 added 0.7 percent while the FTSE-100 and the DAX both rose 0.6 percent. On Wall Street, the future for the Standard & Poor’s 500 index rose 0.2 percent and that for the Dow Jones industrial average advanced 0.1 percent.
ASIA’S DAY: Sydney’s S&P-ASX 200 fell 1 percent to 5,892.30 and the Shanghai Composite Index declined 0.3 percent to 3,135.35. India’s Sensex was unchanged at 29,909.31. Benchmarks in Singapore and Bangkok advanced while New Zealand, Jakarta and Manila declined. South Korean markets also were closed for a holiday.
WALL STREET: U.S. stocks gained but shrinking auto sales offset strong results from industrial companies. Engine maker Cummins sent manufacturers and other industrial companies higher after reporting solid first-quarter earnings. Ford, General Motors and Fiat Chrysler fell after they reported their April sales declined. The S&P rose 0.1 percent to 2,391.17. The Dow gained 0.2 percent to 20,949.89. The Nasdaq composite set another record as it picked up 0.1 percent to 6,095.37.
FED WATCH: Fed policymakers meet Wednesday to discuss interest-rate policy. Investors expect them to freeze the benchmark interest rate this month but are looking to a post-meeting statement for signs of when the next increase might come. The CME Group’s FedWatch tool says futures markets indicate a 66 percent chance of a hike in June.