United States stocks were mostly lower in early trading as investors waited for news about interest rates from the Federal Reserve.
KEEPING SCORE The Dow Jones industrial average fell 0.08 percent and the Standard & Poor’s 500-stock index was down 0.03 percent. The Nasdaq composite index edged up 0.03 percent.
COMPANY NEWS Shares of Verizon slumped 3 percent after it said its earnings may “plateau” next year. Cablevision stock soared 16 percent after agreeing to be acquired by the European cable company Altice.
TO RAISE OR NOT Two months ago, it seemed almost certain that the Fed was going to raise rates in September. Now, after the summer turmoil in financial markets and concerns about China’s economy, there are more investors who believe the Fed will wait until December. The Fed started its two-day policy meeting Wednesday and will announce its decision Thursday afternoon. Interest rates have been near zero since 2008 in response to the financial crisis and Great Recession. The Fed’s low interest rate policy was designed to encourage lending, but it also helped drive a seven-year bull market in stocks.
ANALYST QUOTE “To hike or to hold, that is the question that vexes us today and has done so for quite a few months now,” said Michael Hewson, chief market analyst at CMC Markets.
EUROPEAN MARKETS In Germany, the DAX rose 0.3 percent and in France, the CAC 40 was up 0.3 percent. The FTSE 100 was down 0.3 percent in Britain.
CURRENCIES The dollar could be the big mover after the Fed announcement and the subsequent press briefing from Janet L. Yellen, the chairwoman. In the run-up to the decision, the dollar was mixed, with the euro up 0.3 percent at $1.1318. The dollar was 0.3 percent higher at 120.93 yen.
ASIA’S DAY The Nikkei 225 gained 1.4 percent in Japan, while in Hong Kong, the Hang Seng lost 0.5 percent. The Shanghai Composite Index closed down 2.1 percent in China. The Kospi was up 0.1 percent in South Korea. In Australia, the S.&P./ASX 200 gained 0.9 percent.
ENERGY United States benchmark crude edged down 54 cents to $46.61 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils, fell 76 cents to $48.99 a barrel in London after a 4 percent jump in the previous session.
