Global Stocks: U.S. stock indices declined slightly amid expectations of a rate hike by the end of the year

U.S. stock indices slightly declined on Thursday as investors continued assessing the latest monetary policy statement by the Federal Reserve and raised their expectations for a rate hike later this year.

The Dow Jones Industrial Average declined 23.72 points, or 0.1%, to 17755.80. The S&P 500 slid 0.94, or less than 0.1%, to 2089.41. The Nasdaq Composite Index fell 21.42, or 0.4%, to 5074.27.

Meanwhile a preliminary report from the U.S. Department of Commerce showed that the country's economic growth slowed down in the third quarter because of slower consumer and business spending growth. The gross domestic product rose by 1.5% in Q3 after the 3.9% growth in the second quarter. Analysts had expected a 1.6% growth. On a y/y basis the economy expanded by 2% (the slowest growth since Q1 2014).

The Department of Labor reported that the number of Americans applying for unemployment benefits for the first time rose last week, but remained at historically low levels. In the week ending October 24 the number of initial jobless claims rose by 1,000 to 260,000. The number of claims has been below a 300,000 psychological threshold for 34 weeks (the longest period in more than 40 years).

This morning in Asia Hong Kong Hang Seng eased 0.06%, or 14.74, to 22,805.20. China Shanghai Composite Index gained 0.35%, or 11.75, to 3.399.06. The Nikkei rose 1.08%, or 204.24, to 19,139.95.

Asian indices traded mixed.

Activity at Tokyo stock exchange was low as investors were waiting for the result of the Bank of Japan meeting. The bank left its policy unchanged in order to wait until economic problems become more evident.