NEW YORK — U.S. stock indexes are hanging near their all-time highs in quiet trading. The S&P 500 was up 0.1% in early trading Monday. The benchmark index is coming off its fifth winning week in the last six, and is approaching its record set on Thursday. The Dow Jones Industrial Average was up 70 points, or 0.2%. The Dow is coming off its own record set Friday. The Nasdaq composite edged up 0.1%.
The Hang Seng in Hong Kong slipped 0.2% to 18,226.58 while the Shanghai Composite index added 0.4% to 2,748.92.Japan’s monetary policy remained in the spotlight after the Bank of Japan announced on Friday that it would keep its benchmark rate unchanged at 0.25%. Last week the Fed cut its main interest rate for the first time in more than four years, with more likely to come, ending a long run where it kept that rate at a two-decade high in hopes of slowing the U.S. economy enough to stamp out high inflation. Inflation has subsided from its peak two summers ago and Chair Jerome Powell said the Fed can focus more on keeping the job market solid and the economy out of a recession.
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