Stocks gain ahead of Fed decision; Treasury yields slip

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Key Points

NEW YORK (Reuters) -Global stock indexes were higher and the U.S. dollar was nearly flat on Wednesday ahead of the afternoons Federal Reserves policy decision, while Treasury yields slipped on Treasury Department plans to gradually boost the size of its debt auctions to meet financing needs...

With the U.S. central bank widely expected to hold rates steady, investors will closely monitor Fed Chair Jerome Powells speech to gauge where interest rates are headed and how long they will stay higher...

The Japanese yen recovered somewhat on Wednesday after falling sharply the day before, when the Bank of Japan (BOJ) tweaked its bond yield control policy, loosening its grip on long-term rates and pushing the currency to a one-year low against the dollar...

The Dow Jones Industrial Average rose 162.73 points, or 0.49%, to 33,215.6; the S&P 500 gained 30.21 points, or 0.72%, to 4,224.01; and the Nasdaq Composite added 107.09 points, or 0.83%, to 12,958.33...

Earlier data Wednesday showed Asias manufacturers faced worsening pressure in October with factory activity in China slipping back into decline, clouding recovery prospects for the regions major exporters already squeezed by weaker global demand and higher prices...

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