Stocks across the globe wavered on Wednesday on fears of trade tensions and questions about U.S. interest rates, while lower-than-expected inventory data sent oil prices into the black after morning losses, Reuters reports.
Investors are awaiting the U.S. Federal Reserve’s 2:00 p.m. ET (1800 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 $85 billion take over of Time Warner - a move expected to trigger a wave of corporate mergers.
Shares of the HBO channel owner (TWX.N) jumped about 3 percent after the approval, while AT&T (T.N) dropped 1.6 percent.