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Global stocks higher on hopes U.S. rate hike plans will ease

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Global stock markets mostly gained Wednesday on hopes the Federal Reserve might ease off plans for interest rate hikes, while London opened lower after Britain installed its third prime minister this year amid an economic crisis.

The future for Wall Street's benchmark S&P 500 index declined after gaining for a third day Wednesday after bond prices rose. That suggested some investors expect the Fed to ease off rate hikes as economic activity cools.

The Fed and other central banks have been raising interest rates to slow economic growth and reduce pressure for prices to rise. Investors worry that might tip the global economy into recession. General Motors Co. rose 3.6% after delivering solid results. United Parcel Service slipped 0.3% after the package delivery service beat earnings and revenue forecasts.

 

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