Stocks Inch Lower as Investors Mull Fed

Stock markets were little changed Thursday as investors mulled the latest Federal Reserve statement and a raft of corporate earnings.

The Stoxx Europe 600 inched down 0.3% in early trading, following a muted finish on Wall Street and in Asia.

The Fed held rates steady as expected Wednesday but failed to give a clear signal about its future plans. Fed-fund futures suggest investors dialed back expectations slightly for a rate rise in September following the statement, even as the central bank upgraded its economic assessment and said risks to the outlook had diminished.

In corporate news, shares of Royal Dutch Shell PLC fell around 3.9% in early trade after the energy giant posted a 93% drop in quarterly profit. Credit Suisse shares rose 2.3%, after the Swiss bank reported a surprise quarterly profit following two consecutive quarterly losses.

Facebook Inc. shares were sharply higher in after-hours trading, lifting U.S. stock-index futures, after the social-networking giant beat expectations and topped $2 billion in quarterly profit.

In Asian trade, Japan's Nikkei Stock Average fell 1.1% as the Bank of Japan began a two-day policy meeting, amid concerns a stimulus package there could disappoint.

The dollar was down 0.5% against the yen at 104.6170.

Write to Riva Gold at [e-mail]

(END) Dow Jones Newswires

July 28, 2016 04:15 ET (08:15 GMT)

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