World shares set for seventh day of gains ahead of Fed meeting
Wall Street futures are up with the dollar soft ahead of the meeting, and sterling drifts as a third vote on May’s same Brexit deal is halted
London — World shares edged towards their longest winning streak of the year on Tuesday ahead of a US Federal Reserve meeting, while the pound kept calm after another dramatic twist in the Brexit plot bolstered bets on a lengthy delay to the process. With traders expecting soothing sounds from the Fed’s two-day meeting which starts later, Europe’s early 0.2% to 0.5% gains lifted MSCI’s 47-country world index for a seventh straight day and to its highest since October. Asia had stuck to tight ranges during its session, but all three major Wall Street indices were pointing up again after bank and tech stocks helped extend the year’s 20% charge for US markets on Monday. The dollar, though, was feeling the strain, skulking near a two-week low on the bets that with both US and global growth now slowing the Fed will need to put its rate hike plans on ice. “The market has priced in that the Fed’s next move will be a [rate] cut,” said Liz Ann Sonders, chief investment strategist at Charles ...
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