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Global stocks steady after Trump-Kim summit, investors eye Fed

reuters.com
Global stocks steady after Trump-Kim summit, investors eye Fed

Wall Street made modest gains on Tuesday while the U.S. dollar rose slightly against a basket of major currencies, with only muted impact from the long-awaited U.S.-North Korea summit aimed at denuclearizing the Korean peninsula. Investors were more focused on the start of a two-day policy meeting of the Federal Reserve, looking for hints as to whether the U.S. central bank would move to raise rates three or four times this year. “I don’t think (the Fed) is going to say anything particularly related to a rate hike in December,” said Robert Pavlik, chief investment strategist and senior portfolio manager at SlateStone Wealth LLC in New York. The Dow Jones Industrial Average .DJI fell 1.58 points, or 0.01 percent, to 25,320.73, the S&P 500 .SPX gained 4.85 points, or 0.17 percent, to 2,786.85, and the Nasdaq Composite .IXIC added 43.87 points, or 0.57 percent, to 7,703.79.