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Global stocks, yields edge higher as investors brace for Fed

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Central banks' dovish cooing keeps world stocks lulled near two-week highs

NEW YORK - A gauge of global stock markets gained modestly on Wednesday to reach six-week highs and benchmark government bond yields rose from multiyear lows as investors awaited a decision on monetary policy from the U.S. Federal Reserve later in the session.

The Fed is due to give its policy statement at 2 p.m. EDT followed by a news conference from Chairman Jerome Powell, and “there’s not a lot of incentive for traders to be really directionally betting” ahead of time, said Mark Hackett, chief of investment research at Nationwide. “Equity markets have already placed their bets,” Hackett said. “The issue is Powell needs to reinforce that.”The Dow Jones Industrial Average rose 37.65 points, or 0.14%, to 26,503.19, the S&P 500 lost 0.79 points, or 0.03%, to 2,916.96 and the Nasdaq Composite dropped 9.64 points, or 0.12%, to 7,944.25.Aside from Draghi’s comments, equity markets got a boost on Tuesday when U.S.

 

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