LIVE MARKETS-US stocks claw higher in early trade

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US STOCKS CLAW HIGHER IN EARLY TRADE

Wall Street's main stock indexes are modestly higher on Wednesday, as investors parse through a fresh batch of economic data and cement expectations the Federal Reserve could cut interest rates in December.

According to the CME's FedWatch Tool, there is an 83% chance that the FOMC delivers a 25-basis-point rate cut at its December 9-10 meeting. That's up from 30% a week ago.

Attention will be on the central bank's snapshot of economic conditions, the Beige Book, expected at 2 p.m. ET.

Ahead of this report, the U.S. 10-year Treasury yield US10YT=RR is rising to around 4.03% from a 4.002% close on Tuesday.

A majority of S&P 500 index .SPX sectors are higher, though changes are relatively subdued with no one group posting an absolute change of more than 0.9%.

Chip stocks .SOX and gold stocks .HUI are among early outperformers.

Here is a snapshot of where markets stood around 10:10 a.m. ET:

(Terence Gabriel)

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