U.S.
shares fluctuated near a four-week high, while Treasuries and the
dollar were little changed as investors turned cautious before the
Federal Reserve renders its decision on interest rates.
Futures traders see only a 30 percent
chance that policy makers will raise rates on Thursday at the same time
54 of 113 economists surveyed by Bloomberg predict some kind of
increase. Investors have dialed back expectations for higher rates since
China devalued its currency last month, sparking a sell-off in global
markets.
The Standard & Poor’s 500 Index rose
0.1 percent at 12:27 a.m. in New York and the Stoxx Europe 600 Index
slipped 0.2 percent. Both gauges have closed higher in each of the past
two days.
The S&P 500 gained 2.7 percent in
the five days through Wednesday, its biggest rally leading up to a rate
decision since August 2012.
Reports on Thursday showed that while
new-home construction in the U.S. fell in August, jobless claims
declined to a two-month low last week, highlighting a resilient labor
market.
Source: Bloomberg
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