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Stock market today: World stocks are mixed ahead of this week's Fed meeting

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HONG KONG (AP) — World shares were mixed on Tuesday in a busy week that will bring several top-tier reports on U.S. inflation along with a policy meeting of ...

HONG KONG — World shares were mixed on Tuesday in a busy week that will bring several top-tier reports on U.S. inflation along with a policy meeting of the Federal Reserve.Britain’s FTSE 100 lost 0.3% to 8,205.05 in early trading after government data showed the jobs market is cooling. The unemployment rate from February to April rose to 4.4%, the highest level since September 2021.In Asian trading, Tokyo's Nikkei 225 index gained 0.3% to 39,134.

Companies benefiting from the AI boom are continuing to report big growth almost regardless of what the economy and interest rates are doing., for example, is worth roughly $3 trillion and rose 0.7% Monday after reversing an early-morning loss. It was the first day of trading for the company since a 10-for-one stock split made its share price more affordable to investors, after it ballooned to more than $1,000 amid the AI frenzy.

The last time Fed officials released such projections, in March, they indicated the typical member foresaw roughly three cuts to interest rates in 2024. That projection will almost certainly fall this time around. Traders on Wall Street are largely betting on just one or two cuts to rates in 2024, according to data from CME Group.

-- Wall Street’s most prominent trading desks from JPMorgan Chase & Co. to Citigroup Inc. are urging investors prepare for a stock market jolt this week after the latest inflation print and the Federal Reserve’s interest-rate decision, both of which arrive on Wednesday.

 

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