Markets Await Fed's Interest-Rate Cut Decision Amid Global Economic Fluctuations

Global markets paused on Wednesday as investors waited for signals from the Federal Reserve on interest-rate cuts. Despite minor gains in the S&P 500 and Nasdaq Composite, the markets remained cautious due to concerns about the U.S. labor market and potential recession fears. European shares also edged higher, while Asian stocks slid.

Global markets idled on Wednesday as investors awaited Federal Reserve cues on interest-rate cuts expected on Friday. Oil steadied after declines due to reduced Chinese demand; gold hovered near record highs due to dollar weakness.

On Wall Street, the Dow Jones Industrial Average rose 0.03% to 40,847.85, the S&P 500 gained 0.28% to 5,612.60, and the Nasdaq Composite added 0.34% to 17,877.54.

European and Asian markets showed mixed results, while U.S. job data and Fed meeting minutes underscored concerns about the labor market. Interest-rate futures priced in significant cuts for this year, potentially without a recession.

(With inputs from agencies.)