Closing summary
On Wall Street, the Nasdaq is 0.4% ahead while the S&P 500 has gained 0.5% and the Jones is trading nearly 0.6% higher, as traders await the US Federal Reserve’s interest rate decision later today.
Markets are expecting no change, but will be closely watching Fed chair Jerome Powell’s press conference for any hints on future policy, and his assessment of the US economy in the wake of Donald Trump’s trade tariff announcements.
European stock markets are sliding, with the UK’s FTSE 100 index down 45 points, or 0.5% to 8,551. If it closes lower, it would end its record run of 16 sessions of increases. Germany’s Down is down by 0.4%, France’s CAC has lot 0.9% and Italy’s FTSE MiB is trading 0.4% lower.
There has been a muted reaction to news that top trade officials from the US and China will meet this weekend for the first time since the US president launched tariffs against Beijing.
Asian stocks rose with the exception of Japan’s Nikkei, led by the Shanghai composite, up by 0.8%, after China said it would cut interest rates.
Oil prices have fallen back too after rising by more than 1% earlier. Brent crude is down 0.2% at $62.01 a barrel.
Our other main stories today:
Thank you for reading. We’ll be back tomorrow. Take care – JK
Here are our full stories on the UK construction downturn, China cutting interest rate and Danish drugmaker Novo Nordisk downgrading its forecasts.
