Reuters
WRAPUP 8-U.S. stocks, dollar sluggish, all eyes on Fed meet this week
U.S. stocks touched record highs in choppy trade on Monday and the dollar weakened, as investors avoided making new, bold bets before this week’s Federal Reserve policy meeting, which might offer clues on the outlook for monetary policy. The performance in U.S. shares contrasted with sharp losses in Asia overnight, when MSCI’s broadest index of Asia-Pacific shares outside Japan fell 2.1% to its lowest since December, hurt by concerns over tighter regulations in China. In the United States, investors will closely parse comments by Federal Reserve Chair Jerome Powell on Wednesday after a two-day policy meeting for clues on how the central bank will start tapering its asset purchases, its assessment of inflation risks, and the future of interest rates.
