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- 20 Pakistan coal miners shot dead in attack: police
- Blinken condemns China's 'increasingly dangerous' sea moves
- Toyota returns to Formula One as Haas partner
- EU chief says China must 'adapt its behaviour' to solve trade row
- Musk unveils robotaxi, pledges it 'before 2027'
- Lynx rally, stun Liberty in overtime in WNBA Finals opener
- Pogacar hunting 'perfect' season finale with Coppi's Il Lombardia record
- 'Soul of old Baghdad': city centre sees timid revival
- Kittle at the double as Niners hold off Seahawks
- At least 11 dead in Florida but Hurricane Milton not as bad as feared
- Yankees advance in MLB playoffs as Guardians stay alive
- Asian markets mixed after Wall St drop, Shanghai dips before briefing
- Automaker Stellantis says CEO will retire in 2026
- Musk's promised robotaxi unveil delayed
- Kamada says Japan can close in on World Cup place against Australia
- On US coast, wind power foes embrace 'Save the Whales' argument
- Renewables revolt in Sardinia, Italy's coal-fired island
- Argentina held, Brazil leave it late in 2026 World Cup qualifiers
- Obama blasts 'crazy' Trump in first rally for Harris
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- Fry homers as Guardians down Tigers to stay alive in MLB playoffs
- Japan PM presses China's Li on airspace intrusion
- In Trump 'Truths,' conspiracies, attacks -- and doubts about the election
- How Sebastian Stan found a 'relatable' Trump for 'The Apprentice' biopic
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- It's still 'the economy, stupid,' says US political guru Carville
- Five key dates in the history of the America's Cup
- Zelensky to meet Pope, Scholz as whirlwind Europe tour ends
- At least 10 dead in Florida but Hurricane Milton not as bad as feared
- Far from eye, Hurricane Milton's deadly tornados rampaged Florida
- At least 10 dead in Florida after Hurricane Milton spawns tornadoes
- Argentina held, Bolivia stun Colombia in 2026 qualifiers
- Socceroos have 'nothing to fear' from Japan
- Sean 'Diddy' Combs sex trafficking trial set for May 2025
- Bolivia stun Colombia in World Cup qualifiers
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- Greece earn late win against England in Nations League, Italy-Belgium stalemate
- Trump biopic 'The Apprentice' hits US theaters weeks before election
- Pavlidis dedicates 'special' Greece win over England to tragic Baldock
- Wall Street stocks retreat from records on US inflation data
- 'Like a quake': Beirut shaken after deadliest strikes on centre
- Fallen giants Ghana in AFCON trouble after Sudan draw
- Asian leaders meet in Laos with US, Russia on world turmoil
- England gamble backfires as Pavlidis fires emotional Greece to victory
- Obama stumps for Harris, Trump talks US protectionism
- New-look France ease past Israel in Nations League
- Belgium fight back to draw with 10-man Italy in Nations League
- 'Get a life': Hurricane whips up US election storm
- Japan stay perfect in World Cup qualifying
Stock markets hold largely steady before Fed rate meeting
Stock markets were mostly in wait-and-see mode Wednesday as traders awaited the outcome of the US Federal Reserve's interest-rate meeting.
In New York, the Dow, the S&P 500 and Nasdaq were down by 0.1 percent or less after the open as investors avoided bets ahead of the Fed's announcements later Wednesday.
European markets were mixed in afternoon deals.
Paris' luxury-heavy CAC 40 index was the worst performing major stock market after French giant and Gucci-owner Kering issued a profit warning over weak Chinese demand.
"This is causing concern that other luxury houses could see a similar downturn in demand from this important market," said Kathleen Brooks, an analyst at XTB.com.
"Analysts have been revising down their profit estimates for Europe's textiles and apparel sector, and this could weigh on luxury stocks in the medium term," she said.
Kering shares slid as much as 15 percent in Paris and was heading towards its worst decline ever.
Burberry shed nearly four percent in London. LVMH was two percent down in Paris and Hermes was little changed.
London stocks were largely flat even though UK inflation fell more than expected, fuelling speculation that the Bank of England could start cutting its key rate in June rather than later in the year.
- Focus remains on Fed -
Fed policymakers are widely expected to announce that they are holding US rates at a two-decade high, but traders will be closely watching the "dot plot" of projections for how many cuts they see this year.
"Analysts will pounce on this to see how much it may differ from the last one in December, both in terms of the timing of the first rate cut, and also where the Fed Funds rate may be by the end of this year," said David Morrison, analyst at Trade Nation.
"The current market expectation is that the first cut will be in June, and for the Fed Funds rate to have an upper limit of 4.75 percent by year-end."
Analysts are forecasting the Fed to begin cutting rates from June -- having massively hiked borrowing costs along with other central banks to tackle soaring consumer price inflation.
In December, the Fed was projecting a total of three cuts this year but there are worries policymakers could be spooked into lowering their outlook to just two and maybe even delaying the first cut because of recent reports indicating inflation is stickier than anticipated.
The continued health of the US jobs market is also lifting pressure off Fed to ease its monetary stance.
In the eurozone, European Central Bank President Christine Lagarde warned of the risk of acting "too late" on interest rate cuts, reaffirming the likelihood that the first reduction in the bloc's borrowing costs would come in June.
"We cannot wait until we have all the relevant information," Lagarde said at a conference in Frankfurt.
But she also declined to pre-commit to an interest rate path once that first cut has been made.
- Key figures around 1340 GMT -
New York - Dow: DOWN 0.1 percent at 39,059.79 points
New York - S&P 500: DOWN 0.1 percent at 5,172.83
New York - Nasdaq Composite: DOWN less than 0.1 percent at 16,160.13
London - FTSE 100: DOWN less than 0.1 percent at 7,735.99
Paris - CAC 40: DOWN 0.6 percent at 8,151.49
Frankfurt - DAX: UP 0.1 percent at 18,000.80
EURO STOXX 50: DOWN 0.2 percent at 4,999.35
Hong Kong - Hang Seng Index: UP 0.1 percent at 16,543.07 (close)
Shanghai - Composite: UP 0.6 percent at 3,079.69 (close)
Tokyo - Nikkei 225: Closed for holiday
Dollar/yen: UP at 151.77 yen from 150.88 yen on Tuesday
Euro/dollar: DOWN at $1.0841 from $1.0867
Pound/dollar: DOWN at $1.2692 from $1.2721
Euro/pound: UP at 85.43 pence from 85.40 pence
West Texas Intermediate: DOWN 1.6 percent at $82.10 per barrel
Brent North Sea Crude: DOWN 1.3 percent at $86.24 per barrel
L.Durand--AMWN