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Aug 21 - Global shares idled on Wednesday after a lengthy rebound propelled them towards recent record highs, and as investors awaited confirmation that the U.S. Federal Reserve would cut interest rates as expected.
On Wall Street, the Dow Jones Industrial Average , rose 0.13%, to 40,889, the S&P 500 , gained 0.42%, to 5,620 and the Nasdaq Composite , gained 0.57%, to 17,918. Stocks have been on a roller-coaster ride this month after investors took fright following U.S. jobs data that raised the prospect of recession in the world's biggest economy.
The labor report"helps underpin the futures market assessment that the Fed will cut rates when it meets on Sept. 18," Quincy Krosby, chief global strategist for LPL Financial, said in an email. A potentially unique situation beckons with material rate cuts without a recession, unlike the backdrop for cutting borrowing costs in five of the past seven cutting cycles, said Ross Yarrow, U.S. equities managing director at investment bank Baird.
Hong Kong's Hang Seng , was down 0.7% with JD.com , dropping 8.7% as top shareholder Walmart , moved to sell its large stake.
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