Stocks, dollar dip after data with eyes on Fed

NEW YORK, May 1 - A gauge of global stocks declined for the first time in three sessions on Wednesday while the dollar dipped against a basket of peers after a flurry of U.S. economic data and ahead of a policy announcement by the Federal Reserve.

A separate report from the Bureau of Labor Statistics in its Job Openings and Labor Turnover Survey, or JOLTS, showed U.S. job openings fell to a three-year low in March, while the number of people quitting their jobs declined, indications of easing labor market conditions that could potentially aid the Fed in its fight against inflation.

"There will be a lot of questions about the timing of this cut, if there's a hike in play," said Keith Buchanan, senior portfolio manager at GLOBALT Investments in Atlanta. The dollar index fell 0.12% to 106.19 before the Fed statement after earlier reaching 106.49, the highest since April 16, with the euro up 0.14% at $1.068.

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