GLOBAL MARKETS-Wall Street edges up, Treasury yields consolidate in advance of Fed minutes

* Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn
* Graphic: World FX rates http://tmsnrt.rs/2egbfVh

(Updates to U.S. market open; changes dateline; previously
LONDON, changes byline)
By Stephen Culp
NEW YORK, April 7 (Reuters) - U.S. stocks were modestly
higher, while Treasury yields pressed "pause" on Wednesday in
anticipation of the afternoon release of the Federal Reserve's
minutes, which investors will dissect for clues regarding the
central bank's economic outlook.
All three major U.S. stock indexes were in positive
territory, with economically sensitive small caps .RUT and
transports .DJT lagging.
"The market is on hold until we get some indication from the
Fed," said Peter Cardillo, chief market economist at Spartan
Capital Securities in New York. "I think they'll repeat what
they've been saying all along. And the recent decline of
Treasury yields more or less plays into their hands."
The U.S. Federal Reserve is expected to release the minutes
from its most recent monetary policy meeting later on Wednesday,
which will be parsed for any changes in its economic outlook and
clues as to when it expects to tighten its accommodative stance.
While recent data, particularly Friday's jobs report,
suggest the U.S. economic recovery is gaining momentum, labor
market progress remains well below the Fed's threshold for
reining in its easy monetary policy. "Bottom line is I don't think they're going to rock the boat
at this time, but their tune might be a bit more optimistic,"
Cardillo added.
The Dow Jones Industrial Average .DJI rose 37.75 points,
or 0.11%, to 33,467.99, the S&P 500 .SPX gained 7.67 points,
or 0.19%, to 4,081.61 and the Nasdaq Composite .IXIC added
26.61 points, or 0.19%, to 13,724.99.
European stocks inched away from record highs, while the
UK's exporter-laden FTSE 100 .FTSE rose against the soft pound
sterling. The pan-European STOXX 600 index .STOXX lost 0.14% and
MSCI's gauge of stocks across the globe .MIWD00000PUS gained
0.14%.
Emerging market stocks lost 0.49%. MSCI's broadest index of
Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 0.48%
lower, while Japan's Nikkei .N225 rose 0.12%.
U.S. Treasury yields were mostly lower on Wednesday in
generally quiet trading, with the market in a period of
consolidation following a heavy stretch over the last few weeks
that saw benchmark 10-year notes hit their highest in about 14
months, but longer-dated yields advanced.
Benchmark 10-year notes US10YT=RR last rose 2/32 in price
to yield 1.6491%, down from 1.656% late on Tuesday.
The 30-year bond US30YT=RR last fell 5/32 in price to
yield 2.323%, up from 2.316% late on Tuesday.
The dollar hovered near two-week lows against a basket of
world currencies as bond yields stabilized and market
participants looked forward to the Fed minutes. The dollar index .DXY fell 0.14%, with the euro EUR= up
0.25% to $1.1905.
The Japanese yen strengthened 0.03% versus the greenback at
109.73 per dollar, while the British pound GBP= was last
trading at $1.3778, down 0.33% on the day.
Crude oil prices pulled back as talks to revive a nuclear
deal with Iran raised the possibility of easing sanctions
against its oil exports, offsetting prospects for increased
demand driven by global economic recovery. U.S. crude CLcv1 fell 0.81% to $58.85 per barrel and Brent
LCOcv1 was last at $62.44, down 0.48% on the day.
Gold prices dipped as economic optimism drew investors away
from the safe-haven metal in favor of riskier assets.
Spot gold XAU= dropped 0.3% to $1,738.27 an ounce.

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Global assets http://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging markets http://tmsnrt.rs/2ihRugV
MSCI All Country World Index Market Cap http://tmsnrt.rs/2EmTD6j
How financial markets have performed over the last week https://tmsnrt.rs/3cTyu42
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