Stocks and the dollar rise on the back of the data as the market awaits the decision of the Federal Reserve By Reuters

by Sinead Carew

(Reuters) – The Nasdaq index rose slightly, while the Nasdaq index fell and the dollar rose, as investors await evidence of the path of interest rates from the Federal Reserve, as well as a series of economic data and quarterly earnings reports.

* Prices fell as investors eagerly await the Fed’s interest rate announcement on Wednesday and comments on its possible next steps. Additionally, weak Chinese manufacturing data outweighed support for expected OPEC+ supply cuts this month.

* As some overseas markets were closed for the May 1 holiday, US investors prepared for earnings reports such as the Apple Inc (NASDAQ:) report due Thursday, and data such as the April payroll but not agricultural data, which will be published on Friday.

* The deal reached by JPMorgan Chase & Co. (NYSE) to buy most of First Republic Bank’s assets after regulators took control of the bank, in the third major US bank failure in two months, provided some support.

– The Dow Jones Industrial Average rose 51.23 points, or 0.15%, to 34,149.39, and the Standard & Poor’s rose 0.19 points, or 0.00%, to 4,169.67 points, and fell 35.82 points, or 0.29%, to 12,190.76 units.

* The MSCI World Stock Index decreased by 0.07%. Emerging market stocks fell 0.10%.

The US manufacturing sector rebounded from a three-year low in April, with a slight improvement in new orders and a rebound in employment, but activity remained subdued amid rising borrowing costs and the credit crunch.

* Similarly, construction spending in the United States rose more-than-expected in March, driven by investment in non-residential buildings, but construction of single-family homes remained subdued.

– It rose 0.383%, and the euro fell 0.45%, to $1.097. The Japanese yen fell by 0.78% against the dollar, to settle at 137.35 per dollar, while the pound fell by 0.59%, to $1.2498.

* The yield on the 10-year Treasury rose 9.7 basis points to 3.549%, from 3.452% on Friday. The 30-year yield gained 11.8 basis points to 3.7955%. The two-year yield added 7.3 basis points, to 4.1366%.

US crude fell 2.14 percent to $75.14 a barrel and lost 1.85 percent to $78.84.

Spot gold fell 0.4% to $1,982.50 an ounce, while US gold futures fell 0.18% to $1,986.60 an ounce.

(Reporting by Sinéad Caro, Editing in Spanish by Ricardo Figueroa)