Business Maverick: Stocks dip, dollar rises as Fed path stirs caution: markets wrap

In China, drought and power shortages are compounding challenges from a property crisis and Covid curbs.

Elsewhere, crude oil held gains near $94 a barrel, bolstered by shrinking US crude stockpiles and possible OPEC+ output cuts.US GDP, initial jobless claims, ThursdayECB’s July minutes, ThursdayUS personal income, PCE deflator, University of Michigan consumer sentiment, FridayS&P 500 futures dipped 0.3% as of 10:54 a.m. in Tokyo. The S&P 500 fell 0.2%Australia’s S&P/ASX 200 index rose 0.5%China’s Shanghai Composite index dropped 0.2%.The Japanese yen traded at 136.

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