Market Extra: All eyes are on Fed meeting, but more hinges on G-20

Investors are eagerly looking to this week’s two-day Federal Reserve meeting for clarity on whether or when U.S. benchmark interest rates will be cut for the first time in a decade.

But a lot more may hinge on next week’s G-20 summit in Japan, where the heads of the world’s two biggest economies are set to meet to potentially hash out a détente to growing U.S.-China trade tensions.

“Clearly trade is the number one issue, given tensions with China,” Dec Mullarkey, managing director of investment strategy at SLC Management, told MarketWatch. “I don’t think there is going to be a rate cut tomorrow, mainly because the big, pivotal meeting is at the end of the month, the G-20.

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