* Stocks end little changed in mixed trade
* Pound choppy on Brexit uncertainty
* Crude climbs on new output cut commitment
(Updates with close of U.S. markets, oil settlement prices)
By Chuck Mikolajczak
NEW YORK, Sept 9 (Reuters) - A gauge of global stocks held
near flat on Monday after bouncing between gains and losses as
investors questioned whether likely stimulus measures from the
world's central banks would be enough to deter slowing growth,
while the pound hit a six-week high in choppy trading.
After two straight weeks of gains that boosted the S&P 500
by 4.6%, stocks on Wall Street closed near the unchanged mark as
advances in energy .SPNY and financial .SPSY shares were
offset by a decline in tech .SPLRCT and healthcare .SPXHC .
Earlier, data showed Japan's economy grew at a slower pace
than initially estimated in the second quarter as the U.S.-China
trade war prompted a downward revision of business spending,
intensifying calls for the central bank to deepen stimulus this
month. Still, barring a major announcement on trade developments
between the United States and China, stock movements were likely
to be muted ahead of the next policy announcement by the Federal
Reserve on Sept. 18. Investors have begun to question whether
central banks even have enough measures at their disposal to
support economic growth.
The European Central Bank is expected to introduce new
stimulus measures at its meeting on Thursday. "This is kind of the eye of the storm," as investors await
more news on trade or interest rates, said Paul Nolte, portfolio
manager at Kingsview Asset Management in Chicago.
But he said, "for the market to move significantly higher
from here, we'd really need to see something happen on trade."
Federal Reserve Board Chairman Jerome Powell said the
central bank would continue to "act as appropriate" to sustain
U.S. economic expansion. The Dow Jones Industrial Average .DJI rose 38.05 points,
or 0.14%, to 26,835.51, the S&P 500 .SPX lost 0.28 points, or
0.01%, to 2,978.43 and the Nasdaq Composite .IXIC dropped
15.64 points, or 0.19%, to 8,087.44.
European shares ended lower as Britain's export-heavy FTSE
index tumbled due to a stronger pound, while selling in
defensive sectors such as healthcare and utilities dented early
gains in markets. The pan-European STOXX 600 index .STOXX lost 0.28% and
MSCI's gauge of stocks across the globe .MIWD00000PUS shed
0.01%.
Sterling hit a six-week high of $1.2382 GBP= as investors
saw the likelihood of a "no-deal" Brexit lessening and data that
indicated Britain's economy picked up more than anticipated in
July. British Prime Minister Boris Johnson will ask Parliament a
second time for an early national election but was likely to be
defeated in a vote at around 2230 GMT on Monday. He will then
suspend Parliament until Oct. 14. Sterling's gains were briefly pared sharply as John Bercow,
speaker in Britain's House of Commons, announced he would stand
down from the role. Sterling GBP= was last trading at $1.2343, up 0.50% on the
The dollar index .DXY fell 0.1%, with the euro EUR= up
0.19% to $1.1048.
Oil prices jumped after the new Saudi energy minister,
Prince Abdulaziz bin Salman, confirmed expectations he would
stick with his country's policy of limiting crude output to
support prices. U.S. crude CLcv1 rose 2.35% to settle at $57.85 per barrel
and Brent LCOcv1 settled at $62.59, up 1.71% on the day.
Global assets in 2019 http://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
MSCI All Country Wolrd Index Market Cap http://tmsnrt.rs/2EmTD6j
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