World Stocks Mostly Higher on Friday 09/17 05:18
World shares were mostly higher on Friday as investors assessed a
hodge-podge of economic data.
(AP) -- World shares were mostly higher on Friday as investors assessed a
hodge-podge of economic data.
Benchmarks rose in Frankfurt, Paris, Tokyo and Hong Kong but fell in Sydney.
U.S. futures edged higher, while the yield on the 10-year Treasury note was
steady at 1.33%.
Oil prices retreated from their surge earlier in the week.
U.S. shares edged higher in the early going on Thursday after a surprisingly
good retail sales report for August. That was followed by a disappointing
report showing that weekly unemployment claims rose more than expected.
The S&P 500 and the Dow Jones Industrial Average each lost about 0.2%, while
the tech-heavy Nasdaq managed to eke out a gain of 0.1%.
Investor concerns over prolonged outbreaks of coronavirus are weighing on
sentiment as they await the Federal Reserve's next moves.
"Overall, the mood remains a little downbeat in the markets, with investors
torn between the 'buy the dip' approach that has fared so well in the past and
the growing list of economic and market risks that are increasingly evident,"
Craig Erlam of Oanda said in a commentary.
Germany's DAX gained 0.7% to 15,756.95 while the CAC 40 in Paris surged 0.8%
to 6,675.56. Britain's FTSE 100 added 0.3% to 7,044.99. The futures for the S&P
500 and Dow industrials edged 0.1% higher.
In Asia, Tokyo's Nikkei 225 index added 0.6% to 30,500.05.
In Japan, stocks have been trading near three-decade highs in anticipation
of a change in leadership after Prime Minister Yoshihide Suga pulled out of the
running for head of the ruling Liberal Democratic Party.
Suga's support ratings had languished amid wide public dissatisfaction with
his administration's response to the pandemic.
LDP lawmakers and grassroots members will vote on Sept. 29, with a
parliamentary election due next month.
The Hang Seng in Hong Kong rebounded from losses earlier in the week,
gaining 0.2% to 24,723.57. The Kospi in Seoul edged 0.1% higher to 3,132.76.
The Shanghai Composite index rose 0.2% to 3,613.97, while the S&P/ASX 200 in
Sydney declined 0.8% to 7,403.70.
The U.S. Commerce Department reported that retail sales rose 0.7% last
month. Economists had expected a 0.85% contraction, reasoning that spending
would have fallen as the highly contagious delta variant of COVID-19 prompts
consumers to pull back on shopping.
Markets have been choppy as investors shift money between various sectors
while parsing data for clues about where the economy is headed and how the
Federal Reserve will react.
The central bank will meet next week, and investors will listen closely for
any comments about when and how much it will taper support for low interest
rates that have helped fuel gains for stocks throughout the year.
In other trading, U.S. benchmark crude oil fell 38 cents to $72.23 per
barrel in electronic trading on the New York Mercantile Exchange. It was
unchanged overnight at $72.61 per barrel.
Brent crude, the standard for international pricing, shed 32 cents to $75.35
The dollar rose to 109.94 Japanese yen from 109.81 yen late Thursday. The
euro climbed to $1.1773 from $1.1761.