GLOBAL MARKETS-Wall Street inches up, Treasury yields pare losses after Fed minutes

* Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn
* Graphic: World FX rates http://tmsnrt.rs/2egbfVh

(Updates to afternoon, adds file photos available)
By Stephen Culp
NEW YORK, April 7 (Reuters) - U.S. stocks inched higher and
Treasury yields regained some ground following release of the
Federal Reserve's minutes, in which the central bank said that
while showing signs of progress, the economic recovery remains
far from complete.
All three major U.S. stock indexes gained some ground and
the S&P 500 and the Dow were last in positive territory, with
economically-sensitive small caps .RUT and transports .DJT
lagging.
"The absence of any bad news has the market up some," said
Peter Tuz, president of Chase Investment Counsel in
Charlottesville, Virginia.
The U.S. Federal Reserve released the minutes from its most
recent monetary policy meeting, in which the participants agreed
that while the economy is improving, it remains well below the
central bank's goals. They also stressed the importance of
communicating progress well in advance of any potential taper.
"We got the statement we were looking for," Tuz added.
"People are taking the Fed at its word that we're going to see
low rates for a long time, and we'll get plenty of warning when
the time comes (to raise rates)."
"The market got the statement it was looking for."
While recent data, particularly Friday's jobs report,
suggest the U.S. economic recovery is gaining momentum, labor
market progress remains well below the Fed's threshold for
reining in its easy monetary policy. The Dow Jones Industrial Average .DJI fell 14.82 points,
or 0.04%, to 33,415.42, the S&P 500 .SPX gained 5.52 points,
or 0.14%, to 4,079.46 and the Nasdaq Composite .IXIC added
10.73 points, or 0.08%, to 13,709.11.
European stocks inched lower, closing just below record
highs, while optimism over speedy inoculations and the soft
pound sterling powered the UK's exporter-laden FTSE 100's
.FTSE 0.9% advance. The pan-European STOXX 600 index .STOXX lost 0.22% and
MSCI's gauge of stocks across the globe .MIWD00000PUS %.
Emerging market stocks lost 0.66%. MSCI's broadest index of
Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 0.64%
lower, while Japan's Nikkei .N225 rose 0.12%.
U.S. Treasury yields were essentially unchanged on
Wednesday, regaining some ground after the release of the Fed
minutes. But longer-dated yields advanced.
Benchmark 10-year notes US10YT=RR last rose 1/32 in price
to yield 1.6526%, down from 1.656% late on Tuesday.
The 30-year bond US30YT=RR last fell 13/32 in price to
yield 2.3362%, up from 2.316% late on Tuesday.
The dollar was last nominally higher, but remained close to
two-week lows against a basket of world currencies due to profit
taking and weakened bond yields. The dollar index .DXY rose 0.07%, with the euro EUR=
down 0.03% to $1.1872.
The Japanese yen weakened 0.03% versus the greenback at
109.80 per dollar, while the British pound GBP= was last
trading at $1.3736, down 0.63% on the day.
Crude oil prices pulled back gasoline stocks unexpectedly
swelled, fanning worries over weak demand. U.S. crude CLcv1 settled at $59.77 per barrel, up 0.74%,
while Brent LCOcv1 gained 0.67% to settle at $63.16 per
barrel.
Gold prices dipped as economic optimism drew investors away
from the safe-haven metal in favor of riskier assets.
Spot gold XAU= dropped 0.2% to $1,739.68 an ounce.

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Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging markets http://tmsnrt.rs/2ihRugV
MSCI All Country World Index Market Cap http://tmsnrt.rs/2EmTD6j
How financial markets have performed over the last week https://tmsnrt.rs/3cTyu42
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