clearn.png
Wednesday October 27th, 2021 7:47PM

World shares mixed as investors await US inflation figures

By The Associated Press
Related Articles
  Contact Editor

World shares were mixed on Wednesday as investors awaited the release of U.S. inflation data and upcoming corporate earnings.

Stocks fell in Paris, London, Tokyo and Sydney but rose in Shanghai and Frankfurt.

Prices for oil and other energy have surged recently along with costs of other commodities. Shortages of semiconductors have meanwhile slowed output of many high-value industrial goods such as cars and consumer electronics.

The U.S. Labor Department is due to release its Consumer Price Index for September later Wednesday.

It is a gauge of how inflation is pressuring costs for consumers. Additional information on inflation pressures for businesses will come Thursday when the Labor Department releases its Producer Price Index.

Investors will get look at how rising prices may be affecting consumer spending when the Commerce Department releases its retail sales report for September on Friday.

Germany's DAX gained 0.3% to 15,197.28 while the CAC 40 in Paris slipped 0.2% to 6,537.59. Britain's FTSE 100 lost 0.4% to 7,101.10.

But U.S. futures edged higher. The contracts for both the Dow industrials and the S&P 500 were 0.1% higher.

In Asia, shares rose in Shanghai after customs data showed exports rose in September, though imports rose at a much slower pace. The Shanghai Composite index jumped 0.4% to 3,561.76.

Tokyo's Nikkei 225 index fell 0.3% to 28,140.28 and the S&P/ASX 200 in Sydney edged 0.1% lower to 7,272.50. Seoul's Kospi gained 1% to 2,944.41.

Hong Kong's markets were closed as a precaution due to an approaching typhoon.

China’s producer price index is due out on Thursday. Economists have forecast a surge of more than 10% year-on-year, up from 9.5% in August.

The customs data released Wednesday showed China's exports rose 28.1% in September to $305.7 billion. That was slightly faster than the 26% increase logged in August, and better than economists’ forecasts. Imports rose 17.6% to $240 billion, less than the previous month’s 33%.

On Tuesday, Wall Street's major indexes wavered between small gains and losses for much of the day on Wall Street, before selling gained momentum in the final minutes of trading. The S&P 500 slipped 0.2%. The Dow Jones Industrial Average dropped 0.3% and the Nasdaq slipped 0.1%.

Small company stocks, a gauge of confidence in economic growth, fared better than the broader market, driving the Russell 2000 index 0.6% higher.

The yield on the 10-year Treasury fell to 1.57% from 1.60% late Friday. The bond market was closed on Monday for Columbus Day.

Markets have been choppy for weeks as investors try to figure out how the economy will continue its recovery with COVID-19 remaining a threat and rising inflation potentially crimping consumer spending and corporate finances.

The IMF said Tuesday it foresees global growth this year of 5.9%, compared with a projection for 6% growth made in July. It said the change reflected the persistence of supply chain disruptions in industrialized countries and deadly disparities in vaccination rates between rich and poor nations.

The coming round of earnings reports will give Wall Street a clearer picture of how companies fared in the most recent quarter amid a surge in COVID-19 cases. It will also shed some light on how they expect to perform through the rest of the year.

S&P 500 companies are expected to post 27.6% annual earnings growth for the July-September quarter, according to FactSet. That's down from 28.1% growth estimated by analysts in July.

JPMorgan Chase will kick off earnings for banks on Wednesday. Bank of America, Wells Fargo and Citigroup will follow with their latest quarterly results on Thursday.

In other trading, U.S. benchmark crude oil lost 17 cents to $80.47 per barrel in electronic trading on the New York Mercantile Exchange. It gained 12 cents to $80.64 per barrel on Tuesday.

Brent crude, the international standard, declined 20 cents to $83.22 per barrel.

The U.S. dollar slipped to 113.52 Japanese yen from 113.59 yen late Tuesday. The euro rose to $1.1560 from $1.1530.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Economy, AP Business - Financial Markets
© Copyright 2021 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
World shares mixed as investors await US inflation figures
World shares are mixed as investors wait for the release of U.S. inflation data and upcoming corporate earnings
4:40AM ( 14 minutes ago )
China exports up 28% in September; surplus with US grows
China has reported its imports slowed in September while exports grew at a slightly faster pace
4:08AM ( 45 minutes ago )
British economic recovery falters during the summer
Britain's economic recovery has lost momentum during the summer despite the widespread lifting of coronavirus restrictions as supply chain issues took their toll
3:57AM ( 56 minutes ago )
Associated Press (AP)
Theft-plagued Walgreens closing 5 more San Francisco stores
Walgreens says it will close five more stores in San Francisco next month because of organized retail theft
2:38AM ( 2 hours ago )
The AP Interview: James Shaw wants climate talks to deliver
The coronavirus pandemic has shown that humans are very good at responding to an immediate crisis, says New Zealand’s Climate Change Minister James Shaw
2:31AM ( 2 hours ago )
Energy agency urges bigger global push to cut emissions
The International Energy Agency is urging governments to make stronger commitments to cut greenhouse gas emissions at an upcoming U.N. climate summit
2:25AM ( 2 hours ago )
AP Business
The Latest: Biden vaccine order moves closer to enforcement
The Biden’s administration’s mandate that employers with 100 or more workers require coronavirus vaccinations or institute weekly virus testing has moved one step closer to enforcement
8:15PM ( 8 hours ago )
The Latest: Boeing sets vaccination mandate for employees
Boeing Co. has told employees they must be vaccinated against the coronavirus or possibly be fired
7:27PM ( 9 hours ago )
The Latest: Florida fines county over its vaccine mandate
Florida has issued its first fine to a county it accuses of violating a new state law banning coronavirus vaccine mandates and for firing 14 workers who failed to get the shots
5:16PM ( 11 hours ago )
AP Business - Economy
Opening, ticket prices announced for Peppa Pig theme park
A standalone Peppa Pig theme park at the Legoland Florida Resort is scheduled to open Feb. 24
7:05PM ( 9 hours ago )
EU's first green bond issuance raises $13.8 billion
The European Commission says it has issued its inaugural green bonds, raising 12 billion euros ($13.8 billion) from a sale that attracted strong demand from investors
1:57PM ( 14 hours ago )
IMF foresees a slight drop in global growth from pandemic
The International Monetary Fund is slightly downgrading its outlook for the global recovery from the pandemic recession, reflecting the persistence of supply chain disruptions in industrialized countries and deadly disparities in vaccination rates between rich and poor nations
11:17AM ( 17 hours ago )
AP Business - Financial Markets
China exports up 28% in September; surplus with US grows
China has reported its imports slowed in September while exports grew at a slightly faster pace
4:08AM ( 45 minutes ago )
British economic recovery falters during the summer
Britain's economic recovery has lost momentum during the summer despite the widespread lifting of coronavirus restrictions as supply chain issues took their toll
3:57AM ( 56 minutes ago )
Holocaust forum focuses on social media role in antisemitism
A one-day conference will focus on the receding memory of the Holocaust as Sweden marks the 20th anniversary of a conference on remembering the genocide
3:47AM ( 1 hour ago )
Asian shares mixed after muddled day of trading on Wall St
Shares are mixed in Asia after an up-and-down day on Wall Street ended with most benchmarks lower as traders waited for updates on inflation and corporate earnings
3:28AM ( 1 hour ago )
Capt. Kirk's William Shatner on cusp of blasting into space
Actor William Shatner is counting down to his wildest role yet: riding a rocket into space, courtesy of “Star Trek” fan Jeff Bezos
3:19AM ( 1 hour ago )