Key Global Events

Expected to release today the quarterly reports of two big tech biggies, Microsoft, Alphabet. 

UBS will pay a total of about $387 million in fines related to misconduct at Credit Suisse Group. In a comment, the Fed said the Swiss bank lacked adequate governance and experienced staff and inadequate risk management.

Rally for Chinese stocks after support came from top Chinese leaders, providing help in real estate and local government debt. The Hang Seng Index closed the session with a gain of more than 4 percent.

The two-day FED meeting is underway, ending tomorrow with the interest rate hike decision and monetary policy statements.

Ahead of tomorrow's decision, futures of major U.S. indices trade higher, indicating a bullish opening for Wall Street. Dow Jones +0.01%, S&P500 +0.04% and Nasdaq +0.31%.
European stock exchanges continue the session trading mixed. Milan's FTSE MIB +0.04%, Paris' CAC +0.06%, Madrid's IBEX -0.40%, London's FTSE +0.16%

Forex & Commodities

The dollar strengthened against the two major exchange rates during the course of the stock market session. The euro is worth US$1.1050 (-0.11%) and the pound is worth US$1.2835 (+0.02%). Among commodities, Oil trades back below par at $78.30 per barrel. Gold trades at 1960 (-0.06%).

Index

Asian stock markets were trading mixed. Tokyo's benchmark Nikkei 225 index closed trading below par, -0.13%. China's Hang Seng index rallied, gaining +4.33%. The strong gains depend on the Politburo meeting, where the country's top officials pledged to work further to strengthen the economy.

Global Macroeconomic Data
US- At 4 p.m. the consumer confidence report will be released. The figure compared to July is expected to rise to 111.5.