Global Markets on Edge as Fed Meeting Looms

Wall Street stocks slightly rose as U.S. Treasury yields eased. Investors are bracing for upcoming central bank decisions amid economic uncertainties. Bitcoin hit a new high, driven by Donald Trump's strategic reserve plans. U.S. business activity accelerated, contrasting China's softer economic data, prompting stimulus calls.

Wall Street stocks saw a modest increase as U.S. Treasury yields subsided and investors looked ahead to a critical week for central banks. The Federal Open Markets Committee is expected to announce a 25 basis point rate cut, with investors closely watching its economic projections.

Bitcoin reached a historical peak, spurred by President-elect Donald Trump's suggestion of starting a bitcoin strategic reserve. Meanwhile, the U.S. recorded growth in business activity, despite ongoing challenges in the manufacturing sector, contrasting with weaker data from Europe and China.

As the Dow, S&P 500, and Nasdaq posted gains, French stocks impacted European markets following Moody's downgrade. Emerging markets and Asian shares experienced declines, while anticipation for the Fed's decision kept U.S. Treasury yields and the dollar index in focus.

(With inputs from agencies.)