Global Stocks Mixed Wednesday

BEIJING (AP) -- Global stock markets were mixed Wednesday as investors looked ahead to a speech by the Federal Reserve chairman for signs of possible plans for more U.S. interest rate cuts.

Market benchmarks in London and Frankfurt rose in early trading. Tokyo and Australia closed lower and Shanghai was little changed.

U.S. stocks fell Tuesday after a slide in bond yields and a mixed batch of corporate earnings. Financial sector stocks led the declines.

Investors looked ahead to the Fed's release Wednesday of notes from its policymaking meeting last month and a speech Friday by Chairman Jerome Powell.

Markets have "entered a holding pattern" ahead of Powell's speech at an annual gathering in Jackson Hole, Wyoming, Jeffrey Halley of Oanda said in a report.

Investors expect Powell to signal the Fed "is about to embark on a reinvigorated wave of easing," said Halley. However, he said U.S. data "simply does not support the need for an aggressive easing cycle."

London's FTSE 100 rose 0.7% in early trading to 7,177.20 and Frankfurt's DAX climbed 0.7% to 11,729.41. France's CAC-40 jumped 1% to 5,401.05.

Tokyo's Nikkei 225 shed 0.3% to 20,618.57. Hong Kong's Hang Seng inched up 0.2% to 26,270.04. The Shanghai Composite Index was little changed at 2,880.33.

Seoul's Kospi gained 0.2% to 1,964.65 while Sydney's S&P-ASX 200 fell 0.9% to 6,483.30. India's Sensex lost 0.6% to 37,114.28.

Taiwan was higher and New Zealand was lower, while Southeast Asian markets were mixed.

On Wall Street, the futures for the S&P 500 index rose 0.6% and futures for the Dow Jones Industrial Average climbed 0.5%.

On Tuesday, the S&P 500 index snapped a three-day winning streak and fell 0.8% to 2,900.51. The Dow Jones average slid 0.7% to 25,962.44. The Nasdaq composite dropped 0.7% to 7,948.56.

The U.S. market has been volatile this month as investors try to parse conflicting signals on the U.S. economy and determine whether a recession is on the horizon. A key concern is that the U.S.-Chinese tariff war will weigh on global economic growth.

Some chipmakers rose on Monday's news the Trump administration is delaying enforcement of export curbs on U.S. technology sales to Chinese telecom equipment maker Huawei Technologies Ltd. Qualcomm added 1.6%.

Last week, many stock indexes around the world hit their lowest points of the year before rallying. Analysts say the concerns that drove that sell-off could resurface at any time.

ENERGY: Benchmark U.S. crude gained 12 cents to $56.25 per barrel in electronic trading on the New York Mercantile Exchange. The contract shed 1 cent on Tuesday to close at $56.13. Brent crude, used to price international oils, rose 33 cents to $60.36 per barrel in London. The contract advanced 27 cents the previous session to $60.03.

CURRENCY: The dollar rose to 106.51 yen from Tuesday's 106.22. The euro was lower at $1.1095.

(BE)