US stocks tread water, dollar steady as investors await Fed

(Updates with Wall Street action)

* S&P 500 up 0.05%, Nasdaq rebounds 0.6%

* European stocks boosted by upbeat earnings

* China blue-chip index closes up 0.2%

* Yuan edges back from three-month lows

* Dollar makes marginal gains

* Fed statement due at 2 p.m. EDT

By Koh Gui Qing and Tom Arnold

NEW YORK/LONDON, July 28 (Reuters) - U.S. stocks edged higher on Wednesday in a listless showing while the dollar made modest gains as investors stayed on the sidelines and waited for the outcome of a Federal Reserve meeting.

All eyes will be on a statement from the Fed policy meeting, due at 2 p.m. EDT (1800 GMT), with a news conference by Chairman Jerome Powell expected half an hour later.

Investors are waiting to hear about the Fed's assessment of economic growth, inflation risks, and the impact on monetary policy, especially regarding when the Fed will start tightening policy by reducing its purchases of government bonds.

Any sign that the Fed may act sooner than expected could unnerve markets, since its current ultra-accomodative policy has flushed the market with cash and pushed stock prices to record highs. Some investors said concerns that the fast-spreading Delta coronavirus variant may scupper economic growth is another reason for the Fed to stand pat, for now.

"I'm not sure the Fed needs to change its course right now given the Delta variant is spiking around the country," said Jack Ablin, founding partner and chief investment officer of Cresset Capital Management, which oversees $14 billion of investment funds.

"Any new data is just every excuse for the Fed to sit on its hands and take a wait-and-see attitude."

By late Wednesday morning, the Dow Jones Industrial Average .DJI fell 0.16%, and the S&P 500 .SPX was flat, gaining just 0.09%. The tech-focused Nasdaq Composite .IXIC rebounded 0.8%, after sliding to its lowest in more than two months on Tuesday.

Global equities also took comfort from signs that a measure of calm had returned to China's stock market overnight, which had been hammered this week by investor concerns of a widening regulatory crackdown.

After two sessions of falls, the pan-European STOXX 600 index .STOXX jumped 0.7%, while MSCI's gauge of stocks across the globe .MIWD00000PUS gained 0.20%.

Chinese blue chips .CSI30 closed up 0.2% overnight,

and Hong Kong's benchmark .HSI jumped 1.5%, but remained near nine-month lows.

With investors holding off on major bets before the Fed meeting, the dollar, which had a month-long rally after a hawkish shift from the Fed in June, pared earlier gains.

The dollar index =USD edged up just 0.09%, and the euro EUR= was 0.07% at $1.1806.

The Chinese yuan CNY= edged back from three-month lows. It had its worst day since October on Tuesday. The offshore Chinese yuan CNH= strengthened versus the greenback at 6.4988 per dollar.

In keeping with rangebound trading seen in currencies and stocks, Treasury yields rebounded slightly, after sinking on Tuesday when demand for risk languished.

The yield on 10-year Treasury notes US10YT=RR was up 2.5 basis points to 1.259%, and the yield on 10-year Treasury Inflation-Protected Securities stood at -1.104%, off a record low of -1.147% struck on Tuesday.

Oil prices rose as industry data showed U.S. crude and product inventories fell more sharply than expected last week, outweighing expectations that surging COVID-19 cases would curb fuel demand.

U.S. crude CLc1 rose 0.73% to $72.17 per barrel and Brent LCOc1 was at $74.74, up 0.35% on the day.

Gold held steady, with spot prices XAU= up 0.1% at $1,800.21 an ounce, near the psychological level of $1,800.

Cryptocurrency Bitcoin BTC=BTSP slipped back below $40,000, and was last up 0.6% at $39,703.

World FX rates YTD Link
Global asset performance Link
Asian stock markets Link
Chinese stocks in U.S. take a beating Link

Reporting by Koh Gui Qing in New York, Tom Arnold in London
and Alun John in Hong Kong; Additional reporting by Sujata Rao;
Editing by Ana Nicolaci da Costa, Kim Coghill, Catherine Evans,
Timothy Heritage and Barbara Lewis

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。


本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示: 您的資金存在風險。杠杆商品可能不適合所有客戶。 請詳細閱讀我們的風險聲明