Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

World stocks mixed as investors take wait-and-see approach to US Fed meeting

People walk by an electronic stock board of a securities firm in Tokyo, Tuesday, June 17, 2014. Asian stocks were mixed on Tuesday as investors remained cautious ahead of a meeting by the Federal Reserve that’s expected to give an update on forecasts for the world’s No. 1 economy. (AP Photo/Koji Sasahara)

Enlarge Image

People walk by an electronic stock board of a securities firm in Tokyo, Tuesday, June 17, 2014. Asian stocks were mixed on Tuesday as investors remained cautious ahead of a meeting by the Federal Reserve that’s expected to give an update on forecasts for the world’s No. 1 economy. (AP Photo/Koji Sasahara)

HONG KONG - World stock markets were mixed Tuesday as investors remained cautious ahead of a U.S. Federal Reserve meeting that's expected to update forecasts for the world's No. 1 economy.

The economic growth outlook for the U.S. became cloudier after the International Monetary Fund lowered its forecast for 2014 growth to a modest 2 per cent from 2.7 per cent previously. The Fed's Open Market Committee is expected to follow suit and adjust its projections following the meeting, which concludes on Wednesday, after recent data showed that economy shrank in the first quarter because of a severe winter, while the unemployment rate has improved and inflation has picked up.

"These developments should lead to substantial revisions of the economic projections of FOMC participants," Rabobank strategists said in a report.

In early European trading, Germany's DAX rose 0.8 per cent to 9,966.71 while France's CAC 40 climbed 0.5 per cent to 4,533.99. The FTSE 100 index of leading British companies advanced 0.3 per cent to 6,772.01.

U.S. stocks were poised to open higher. Dow futures gained 0.3 per cent to 16,756.00 while broader S&P 500 futures rose 0.3 per cent to 1,934.70.

Asian markets were more restrained. Investors in the region were taking a "wait-and-see mode," Credit Agricole CIB strategists said.

Japan's benchmark Nikkei 225 rose 0.3 per cent to close at 14,975.97, rebounding from a sharp 1.1 per cent drop the day before as the dollar strengthened 0.2 per cent to 102.02 Japanese yen.

South Korea's Kospi added 0.4 per cent to end at 2,001.55 while Hong Kong's Hang Seng shed 0.4 per cent to 23,203.59. In mainland China, the Shanghai Composite Index lost 0.8 per cent to 2,066.70. Australia's S&P/ASX 200 slipped 0.2 per cent to 5,400.70.

In energy trading, benchmark crude oil for July delivery fell 59 cents to $106.31 in electronic trading on the New York Mercantile Exchange. The contract fell 1 cent to $106.90 on Monday.

The euro edged higher to $1.3573 from $1.3572 in late trading Monday.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
The First World War at 100
Why Not Minot?
Welcome to Winnipeg

Social Media

Canadian Mortgage Rates