GLOBAL MARKETS-Stocks rise modestly after Fed, US data; yen slightly stronger [Yahoo! Finance]
Apple Inc. (AAPL)
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Source: Yahoo! Finance
(Updated at 10:08 a.m. ET/1408 GMT) By Chuck Mikolajczak NEW YORK, May 2 (Reuters) - A gauge of global markets gained on Thursday after the Federal Reserve indicated it was keeping a dovish tilt, while the yen retreated after another suspected round of intervention by the Bank of Japan. On Wall Street, U.S. stocks gained slightly in early trading, after Fed Chair Jerome Powell said that while recent inflation readings mean it will likely take longer than expected for central bank officials to become comfortable that inflation will resume its decline, interest rate increases also remained unlikely. "The outcome of the statement, plus the press conference was for slightly more rate cuts to be priced in, not necessarily sooner, but by the end of the year," said Brian Nick, senior investment strategist at the Macro Institute. Markets have consistently scaled back the timing and amount of rate cuts this year from the Fed as inflation has proved to be sticky and the labor market
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