Global stocks rise as investors wait for US inflation


Beijing — Global stocks were almost high on Thursday as investors were waiting for US inflation data that could influence the Federal Reserve’s decision on when to roll back economic stimuli.

London and Frankfurt opened higher while Tokyo fell. Shanghai, Hong Kong and Seoul have also advanced.

Wall Street futures fell after a rise in stock prices on Wednesday, as concerns over the Omicron variant of the coronavirus eased.

Traders looked at US inflation data on Friday November to show if the Fed could feel pressure to lower prices by rolling back the stimulus that is pushing up stock prices.

The Federal Reserve Board will meet last week in 2021. They said they were ready to act as needed after inflation reached a high of 6.2% in October for the first time in 30 years.

“Friday inflation will definitely come to mind,” Fed officials said in a report, Matt Weller of StoneX Financial. The number in the headline is “expected to rise further.”

Also on Thursday, China reported that inflation in prices paid by factories for parts and raw materials in November eased from the 25-year highs of the previous month. Due to China’s role as a global manufacturing center, traders see it as a possible guide to inflation in the United States.

In early trading, the London FTSE 100 rose 0.3% to 7,358.66 and the Frankfurt DAX rose 0.1% to 15,702.33. CAC 40 in Paris rose 0.3% to 7,036.54.

On Wall Street, the Benchmark S & P 500 Index and the Dow Jones Industrial Average 30 futures fell 0.2%.

On Wednesday, the S & P 500 rose 0.3%. It is increasing by 25.2% annually. Approximately 62% of the index’s stock has advanced.

The Dow rose 0.1% and the Nasdaq Composite index rose 0.6%.

In Asia, the Shanghai Composite Index went from 1% to 3,673.04 after the rise in producer prices fell from 13.5% in October to 12.9% a year ago as coal and metal prices fell.

“Efforts to lower energy prices seem to be working,” Invesco’s David Chao said in a report. “Producer prices and inflation may continue to ease.”

The Nikkei 225 in Tokyo fell 0.5% to 28,725.47, and the Hang Seng Index in Hong Kong rose 1.1% to 24,254.86.

Seoul’s Kospi rose 0.9% to 3,029.57, and Sydney’s S & P-ASX rose 0.3% to 7,384.50.

The Indian Sensex was 58,646.60, which was almost unchanged. New Zealand and Bangkok have declined, but Jakarta has risen.

US stocks have fallen in the last two weeks due to inflation and concerns about Omicron varieties. Shares have stabilized after Dr. Anthony Fauci, White House Chief Medical Advisor, and early signs of Monday suggest that they may be less dangerous than previous Delta variants. ..

In the energy market, benchmark US crude fell 11 cents to $ 72.23 a barrel in electronic trading on the New York Mercantile Exchange. The deal rose 31 cents to $ 72.36 on Wednesday. Brent crude, the international oil price standard, fell 20 cents in London to $ 75.62 per barrel. In the previous session, it rose 38 cents to $ 75.82.

The dollar fell from 113.67 yen on Wednesday to 113.45 yen. The euro fell from $ 1.1349 to $ 1.1333.

Joe McDonald

Associated Press