cloudy
Saturday November 18th, 2017 8:59AM
9:48PM ( 11 hours ago ) Weather Alert

Global stocks mixed after Wall Street gains

By The Associated Press

BEIJING (AP) — Global stock markets were mixed Monday after major Wall Street indexes hit new highs and China reported unexpectedly strong economic growth.

KEEPING SCORE: In early trading, London's FTSE 100 index rose 0.4 percent to 7,410.96 and France's CAC 40 was little changed at 5,235.90. Germany's DAX shed 0.2 percent to 12,600.48. On Friday, the FTSE 100 slid 0.5 percent, the DAX lost 0.1 percent and the CAC 40 was flat. Futures for the Dow Jones industrial average and the Standard & Poor's 500 index were unchanged.

ASIA'S DAY: Hong Kong's Hang Seng gained 0.3 percent to 26,470.58 and Seoul's Kospi added 0.4 percent to 2,425.10. The Shanghai Composite Index was off 1.4 percent at 3,176.46, while Japanese markets were closed for a holiday. India's Sensex advanced 0.3 percent to 32,104.77 and Australia's S&P ASX 200 shed 0.2 percent to 5,755.50. Benchmarks in Singapore and Manila rose while Bangkok and Jakarta declined.

WALL STREET: Gains by big technology and health care companies pushed U.S. stocks higher for a third straight day on Friday, lifting the S&P 500, Dow and Russell 2000 index of smaller-company stocks to record highs. Energy companies advanced on higher oil prices. High-dividend stocks such as real estate companies and utilities posted big gains following a drop in bond yields. Investors brushed off a report showing U.S. retail sales declined in June and drew encouragement from data indicating industrial production rebounded. The S&P 500 gained 0.5 percent, the Dow rose 0.4 percent and the Nasdaq composite added 0.6 percent.

CHINESE GROWTH: China's economic growth held steady at 6.9 percent in the quarter ending in June, exceeding most forecasts. Growth was boosted by unexpectedly strong retail sales and trade, which offset softer investment. Forecasters warned that strength was unlikely to last because tighter controls on bank lending aimed at cooling a surge in debt will weigh on investment, a major component in growth.

CHINESE DEBT MANAGEMENT: President Xi Jinping called at a weekend meeting of Chinese leaders on financial reform to focus on containing risk and to "go back to the origin" of supporting real economic activity. Regulators are tightening controls on bank lending to cool surging debt that analysts cite as the biggest potential threat to economic growth. Analysts said Xi's comments suggest efforts to tighten regulation will be extended.

FED WATCH: Unexpectedly weak U.S. consumer inflation prompted analysts to question whether the Federal Reserve would be ready to go ahead with another possible interest rate hike. The consumer price index fell to 1.7 percent in June from January's 2.3 percent. "The Fed has hiked rates three times in three quarters but we no longer think it will go 4-4 in September," DBS Group said in a report. "The safe and probably wise thing to do is to sit tight — wait and see how the data play out before continuing with interest rate normalization."

ENERGY: Benchmark U.S. crude gained 16 cents to $46.70 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 46 cents on Friday to close at $46.54. Brent crude, used to price international oils, added 7 cents to $48.98 in London. It advanced 49 cents the previous session to $48.91.

CURRENCY: The dollar rose to 112.59 yen from Friday's 112.52. The euro declined to $1.1449 from $1.1471.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Economy, AP Business - Financial Markets, AP Business - Industries, AP Business - Utilities
© Copyright 2017 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
George A. Romero, father of the zombie film, is dead at 77
George Romero, whose classic "Night of the Living Dead" and other horror films turned zombie movies into social commentaries and who saw his flesh-devouring undead spawn countless imitators, remakes and homages, has died. He was 77.
4:57AM ( 50 minutes ago )
Federer up to ATP No. 3 after Wimbledon; Muguruza WTA No. 5
Roger Federer's eighth Wimbledon title pushed him back up to No. 3 in the rankings
4:52AM ( 55 minutes ago )
Underperforming Mets could be busy sellers at trade deadline
When the season began, the New York Mets thought they'd be fighting for first place this time of year
4:48AM ( 59 minutes ago )
Associated Press (AP)
California lawmakers to decide fate of landmark climate law
California lawmakers are nearing a high-stakes decision that will decide the fate of a climate initiative that Gov. Jerry Brown holds up as a model to be replicated around the world to confront rising global temperatures
3:41AM ( 2 hours ago )
Health plan hinges on the young, but they're a tough sell
Young and healthy, Julian Senn-Raemont isn't convinced he needs to buy health insurance when he loses coverage under his dad's plan in a couple of years
3:24AM ( 2 hours ago )
Montana faces double quandary over Medicaid expansion
For all the uncertainty over the fate of a health care overhaul in Washington, Montana's working poor are already in a quandary
3:22AM ( 2 hours ago )
AP Business
Woman killed as Venezuelans vote in opposition referendum
Hundreds of thousands of Venezuelans lined up across the country and in expatriate communities around the world to vote in a symbolic rejection of President Nicolas Maduro's plan to rewrite the constitution
11:42PM ( 6 hours ago )
Woman killed, 4 injured as violence erupts at Venezuela vote
Hundreds of thousands of Venezuelans lined up across the country and in expatriate communities around the world to vote in a symbolic rejection of President Nicolas Maduro's plan to rewrite the constitution
10:46PM ( 7 hours ago )
Woman killed, 3 wounded as tensions rise with Venezuela vote
Hundreds of thousands of Venezuelans lined up across the country and in expatriate communities around the world to vote in a symbolic rejection of President Nicolas Maduro's plan to rewrite the constitution
5:14PM ( 12 hours ago )
AP Business - Economy
US stocks move higher in afternoon trading; crude oil gains
U.S. stocks are on track late Friday afternoon to finish modestly higher, led by gains in technology and health care companies
3:19PM ( 2 days ago )
JPMorgan's Dimon lashes out at Washington over gridlock
JPMorgan Chase CEO Jamie Dimon lashes out at Washington, news media
11:54AM ( 2 days ago )
Global stocks steady as earnings and US data eyed
Global stock markets are modestly higher in a narrow range as investors await a raft of corporate earnings beginning next week
8:08AM ( 2 days ago )
AP Business - Financial Markets
More hurdles as Senate again delays vote on GOP health bill
The Senate has delayed a highly anticipated vote this week to repeal and replace the nation's health care law after Sen. John McCain's absence due to surgery
2:36PM ( 15 hours ago )
Self-fueling boat sets off from Paris on 6-year world trip
A boat that fuels itself is setting off around the world from Paris on a six-year journey that its designers hope serves as a model for emissions-free energy networks of the future
11:52AM ( 1 day ago )
Lobbyist who met Trump team says he's not with Russian intel
Russian-American lobbyist who attended a meeting with Trump campaign officials last year denies connections to Russian intelligence
11:43AM ( 1 day ago )
AP Business - Industries
Gov. Brown makes dire plea to save California climate law
California Gov. Jerry Brown is calling climate change "a threat to organized human existence" and warning of devastation from forest fires and disease if lawmakers fail to renew the state's signature program to fight the problem
12:19PM ( 2 days ago )
US retail sales fall for a 2nd month as consumers pull back
US retail sales declined 0.2 percent in June; spending down at restaurants, department stores and gasoline stations
10:57AM ( 2 days ago )
Cheaper gas, wireless plans keep US inflation in check
US consumer prices unchanged in June as falling energy prices keep inflation in check
8:49AM ( 2 days ago )
AP Business - Utilities
George A. Romero, father of the zombie film, is dead at 77
George Romero, whose classic "Night of the Living Dead" and other horror films turned zombie movies into social commentaries and who saw his flesh-devouring undead spawn countless imitators, remakes and homages, has died. He was 77.
4:57AM ( 50 minutes ago )
Federer up to ATP No. 3 after Wimbledon; Muguruza WTA No. 5
Roger Federer's eighth Wimbledon title pushed him back up to No. 3 in the rankings
4:52AM ( 55 minutes ago )
Underperforming Mets could be busy sellers at trade deadline
When the season began, the New York Mets thought they'd be fighting for first place this time of year
4:48AM ( 59 minutes ago )
Scuffling Mets could be big sellers at trade deadline
When the season began, the New York Mets thought they'd be fighting for first place this time of year
3:47AM ( 2 hours ago )
California lawmakers to decide fate of landmark climate law
California lawmakers are nearing a high-stakes decision that will decide the fate of a climate initiative that Gov. Jerry Brown holds up as a model to be replicated around the world to confront rising global temperatures
3:41AM ( 2 hours ago )