World Equity Advances in Mixed Economy Data


Most of the world’s share on Friday was high as investors evaluated the jumble of economic data.

Benchmarks rose in Frankfurt, Paris, Tokyo and Hong Kong, but fell in Sydney. US futures were on the rise and yields on 10-year Treasuries were stable at 1.33%.

Crude oil prices receded from a surge at the beginning of the week.

US stocks rose early Thursday following a surprisingly strong retail sales report in August. This was followed by disappointing reports of higher-than-expected weekly unemployment benefits.

The S & P 500 and the Dow Jones Industrial Average each fell by about 0.2%, while the tech-heavy Nasdaq managed to rise by 0.1%.

Investor concerns about the long-term outbreak of the coronavirus are emotionally focused as they await the next move of the Federal Reserve Board.

“Overall, investors have been torn between a very successful’buy dip’approach in the past and an increasing list of increasingly apparent economic and market risks, keeping the market mood a bit calm. “We do,” said Craig Ahram. Oanda said in the commentary.

Germany’s DAX rose 0.7% to 15,756.95 and Paris’ CAC 40 rose 0.8% to 6,675.56. The UK’s FTSE 100 rose 0.3% to 7,044.99. Futures on the S & P 500 and the Dow Jones Industrial Average rose 0.1%.

In Asia, Tokyo’s Nikkei 225 Index rose 0.6% to 30,500.05.

In Japan, stock prices have been trading at highs for nearly 30 years in anticipation of changes in leadership after Prime Minister Yoshihide Suga withdrew his candidacy for LDP Prime Minister.

Currency trader
Currency traders are walking through the Korea Composite Stock Index (KOSPI) (L) and screens showing the exchange rates of the US dollar and the Korean won that won at the Forex Exchange Office in Seoul, South Korea on September 17. 2021. (Lee Zinman / AP photo)

Suga’s approval rating was sluggish amid public dissatisfaction with his administration’s response to the pandemic.

Liberal Democratic Party lawmakers and grassroots members vote on September 29, with parliamentary elections scheduled for next month.

Hong Kong’s Hang Seng Index recovered from losses earlier this week, rising 0.2% to 24,723.57. Seoul’s Kospi was up 0.1% to 3,132.76.

The Shanghai Composite Index rose 0.2% to 3,613.97 and Sydney’s S & P / ASX 200 fell 0.8% to 7,403.70.

The US Department of Commerce reported last month that retail sales increased by 0.7%. Economists expected a 0.85% reduction. We believe that COVID-19’s highly contagious delta type has reduced spending as consumers stop shopping.

As investors shift money between different sectors while they analyze data for clues about where the economy is heading and how the Federal Reserve reacts, The market was volatile.

The central bank will meet next week, and investors will listen carefully to comments on when and how much to taper support for low interest rates that helped raise stocks throughout the year.

In other transactions, electronic trading on the New York Mercantile Exchange dropped 38 cents in US benchmark crude to $ 72.23 a barrel. It stayed overnight and was $ 72.61 a barrel.

Brent crude, the international price standard, fell 32 cents to $ 75.35 a barrel.

The dollar rose from 109.81 yen to 109.94 yen late Thursday. The euro rose from $ 1.1761 to $ 1.1773.

By Elaine Kurtenbach

Associated Press