Stock market today: Asian stocks mixed as traders await Fed conference for interest rate update
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Asian stocks were mixed Monday as traders looked ahead to the Federal Reserve’s summer conference for signs of whether the U.S. central bank thinks inflation is under control or more interest rate hikes are needed to cool inflation. Wall Street’s benchmark S&P 500 index edged down 0.1% on Friday to end the week lower ahead of the Jackson Hole, Wyoming, conference. Data indicating U.S. consumer spending and hiring are unexpectedly strong have fueled expectations the Fed might feel pressure to keep its benchmark lending rate higher for longer.