Charting the Markets: China Rebounds as the Fed Wait Ends
Investors observe stock market at a stock exchange hall in Shanghai, China.
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The long wait is almost over. The Federal Reserve begins its two-day policy meeting on interest rates today and economists surveyed by Bloomberg are split on the outcome. Traders seem more certain, putting the probability of a rate hike at 32 percent, according to futures contracts. That's up from 26 percent on Monday but below odds of 48% the day before China devalued the yuan in August.
Asian stock markets on Wednesday took their cue from the U.S. session, which saw the S&P 500 rise to an almost three-week high. The MSCI Asia Pacific Index gained as much as 1.6% percent. European stocks rose for a second day.