U.K. stocks closed lower Tuesday, locking in a monthly loss, weighed down in part by a jump in the British pound, though gains by miners helped limit the drop. Pound strength can unsettle U.K. stock investors, as it cuts into profit made overseas by British multinational companies.

U.S. stocks closed up modestly Wednesday after the Federal Reserve stood pat on interest rates and offered a positive view of the economy, while shares of Apple rallied a day after the iPhone maker reported strong earnings. Apple, as the largest U.S. company by market cap, which means it has a heavy weighting in major indexes, was offsetting weakness elsewhere in the market. Seven of the S&P 500's 11 primary sectors were lower on the day, continuing a recent bout of fragility seen this week.

Global investors continued to search for direction Thursday after the U.S. Federal Reserve's latest policy statement, which held interest rates steady, as expected. For weeks, investors have been flipping between optimism and concern. This week started with worry, but the mood became more upbeat, with strong economic data out of the U.S., China and Europe.