FILE - A person looks at an electronic stock board showing Japan's Nikkei index at a securities firm in Tokyo, on Sept. 9, 2024. – Asian stocks were mixed on Monday with several key markets closed for a holiday, after U.S. stocks finished their best week of the year and climbed to the cusp of their records.
Investors will closely watch the Federal Reserve’s policy meeting on Tuesday and Wednesday, when the central bank is expected to announce its first interest rate cut since 2020. The Bank of Japan’s policy meeting on Thursday and Friday is expected to leave Japan's rate unchanged. The Dow Jones Industrial Average jumped 0.7% to 41,393.78 and the Nasdaq composite added 0.7% to 17,683.98.
How much to cut rates by will be a delicate balancing act for the Fed: Lowering them relieves pressure on the economy but can also give inflation more fuel. Reportsshowed some underlying upward pressure may remain on inflation, which initially pushed traders to ratchet back expectations for the size of the Fed’s upcoming move.
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