New York — Stocks across the globe wavered on Wednesday on fears of trade tensions and questions about US interest rates, while lower-than-expected inventory data sent oil prices into the black after morning losses. Investors are awaiting the US Federal Reserve’s 6pm GMT decision on monetary policy, with the year’s second interest rate hike almost certain. But market participants are keen to know how many times the Fed will raise rates in 2018, with market pricing "fairly split between three and four hikes", Deutsche Bank strategist Jim Reid wrote in a note to clients. Amid the uncertainty, Wall Street opened slightly firmer, buoyed by a jump in media stocks after Tuesday’s court ruling allowing AT&T’s $85bn take over of Time Warner — a move expected to trigger a wave of corporate mergers. Shares of the HBO channel owner jumped about 3% after the approval, while AT&T dropped 1.6%. Overall, stock markets were moving up, but tepidly. The Dow Jones Industrial Average rose 18.88 points,...
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