clearn.png
Sunday August 7th, 2022 9:14PM

Global shares rise on optimism on economic data, earnings

By The Associated Press
Related Articles
  Contact Editor

TOKYO (AP) — Global shares were mostly higher Thursday as investors welcomed encouraging economic data and quarterly earnings reports from big companies.

European shares mostly headed higher in early trading. Benchmarks advanced in Asia as jitters eased over U.S. House Speaker Nancy Pelosi’s visit to Taiwan. The gains followed a strong rally on Wall Street.

France's CAC 40 added 0.5% in early trading to 6,501.54, while Germany's DAX gained 0.7% to 13,688.05. Britain's FTSE 100 fell 0.3% to 7,426.95. The future for the Dow industrials inched up less than 0.1% while that for the S&P 500 also was little changed, up by less than 0.1%.

Analysts said geopolitical risks remained after Pelosi's visit to Taiwan in defiance of Beijing, with China conducting military exercises near the self-ruled island that it claims as its own territory.

“Despite the easing in immediate concerns, investors will be looking out for any potential escalation in U.S.-China tensions, with any economic sanctions from China likely to negatively affect risk sentiment and positioning in Asian markets,” said Anderson Alves of ActivTrades.

Alves said investors are also watching U.S. nonfarm payrolls, due Friday, for indications on hiring, and how that might affect interest rate policy. But overall, Pelosi's trip so far has had little impact on markets. She was visiting Seoul on Thursday and would then head to Japan.

Japan's benchmark Nikkei 225 added 0.7% to finish at 27,932.20. Australia's S&P/ASX 200 lost earlier gains, shedding just 1 point to 6,974.90. South Korea's Kospi added 0.5% to 2,473.11. Hong Kong's Hang Seng rose 2.1% to 20,174.04, while the Shanghai Composite climbed 0.8% to 3,189.04.

India's Sensex lost 0.6% and the Taiex in Taiwan also fell 0.5%.

Earnings remain in focus this week as investors parse the latest results and statements from companies to better understand how inflation is affecting businesses and consumers.

Oil prices rose following OPEC's decision to boost production in September at a much slower pace than previous months. Benchmark U.S. crude added 50 cents to $91.16 a barrel. On Wednesday, U.S. crude oil fell 4% to settle at $90.66 per barrel. Brent crude, the international standard, added 29 cents to $97.07 a barrel.

Upcoming data on the U.S. jobs market could help investors determine how the Federal Reserve will move ahead with its interest rate policy, which has been aggressive in an effort to try and tame inflation. U.S. jobless claims numbers for last week will be released Thursday.

In currency trading, the U.S. dollar edged up to 134.24 Japanese yen from 133.85 yen. The euro cost $1.0166, little changed from $1.0170.

___

Yuri Kageyama is on Twitter https://twitter.com/yurikageyama

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Business - Economy, AP Business - Financial Markets, AP Business - Industries, AP Business - Utilities
© Copyright 2022 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Global shares rise on optimism on economic data, earnings
Global shares are mostly higher as investors welcome encouraging economic data and quarterly earnings reports from big companies
4:52AM ( 31 minutes ago )
Bank of England likely to raise interest rates — maybe a lot
The Bank of England is likely to announce its biggest interest rate increase in more than 27 years as it seeks to rein in accelerating inflation driven by the fallout from Russia’s invasion of Ukraine
4:29AM ( 55 minutes ago )
EXPLAINER: Why is China staging drills around Taiwan?
China is staging live-fire military drills in six zones surrounding Taiwan in response to a visit by U.S. House Speaker Nancy Pelosi to the island Beijing claims as its own territory
4:07AM ( 1 hour ago )
Associated Press (AP)
China emphasizes ties with Southeast Asia in Cambodia meet
China’s Foreign Minister Wang Yi is stressing his country’s efforts to strengthen ties with Southeast Asian nations at a meeting with their foreign ministers, which comes as Beijing seeks to expand its influence in the region
2:31AM ( 2 hours ago )
Urias wins his 8th straight decision, Dodgers top Giants 3-0
Julio Urias won his eighth consecutive decision and Miguel Vargas drove in two runs in his major league debut as the Los Angeles Dodgers beat the San Francisco Giants 3-0
2:12AM ( 3 hours ago )
Asian shares rise on optimism on economic data, earnings
Asian shares are mostly higher as investors welcome encouraging economic data and quarterly earnings reports from big companies
11:55PM ( 5 hours ago )
AP Business
Mickelson, others sue PGA Tour over LIV Golf suspensions
The dispute between the PGA Tour and the Saudi-funded LIV Golf series is now in the courts
5:58PM ( 11 hours ago )
NLRB: Mine workers to pay Alabama coal company over $13M
A federal oversight board is ordering the United Mine Workers of America to pay more than $13 million in compensation to an Alabama coal company where members have been on strike for more than a year
4:55PM ( 12 hours ago )
US stocks rise following solid earnings reports
Stocks are closing higher on Wall Street Wednesday as investors reviewed a mostly encouraging batch of earnings from big companies
4:43PM ( 12 hours ago )
AP Business - Corporate News
Abortion vote in Kansas sparks new hope for Dems in midterms
Democrats are celebrating a stunning victory for abortion rights in Republican stronghold Kansas as proof that the issue could turn back a Republican wave this fall
8:01PM ( 9 hours ago )
Senate backs Finland, Sweden for NATO 95-1, rebuking Russia
U.S. Senators delivered an overwhelming bipartisan vote ratifying NATO membership for Finland and Sweden
7:57PM ( 9 hours ago )
GOP targets for Dem bill: Inflation, taxes, Manchin, Sinema
Republicans see inflation, taxes and immigration as Democratic weak spots worth attacking in the upcoming battle over an economic package the Democrats want to push through the Senate
6:51PM ( 10 hours ago )
AP Business - Economy
Sri Lanka leader proposes 25-year plan for crisis-hit nation
Sri Lanka’s new president says his government is preparing a national policy roadmap for the next 25 years that aims to cut public debt and turn the country into a competitive export economy as it seeks a way out of its worst economic disaster
7:16AM ( 22 hours ago )
Inflation in Turkey rises to nearly 80%, hitting consumers
Annual inflation in Turkey soared to nearly 80% in July
6:18AM ( 23 hours ago )
OPEC+ to decide oil output to world amid high inflation
The OPEC oil cartel and its allies are meeting to decide how much oil to produce in September
5:33AM ( 23 hours ago )
AP Business - Financial Markets
EXPLAINER: Does health care law protect emergency abortion?
The Biden administration has filed its first legal challenge to a state abortion ban since the end of Roe v. Wade with a case that could allow hospitals to keep giving women abortion-related medical care in serious medical situations
7:01PM ( 10 hours ago )
NLRB orders mine workers union to pay coal company over $13M
A federal oversight board is ordering the United Mine Workers of America to pay more than $13 million in compensation to an Alabama coal company where members have been on strike for more than a year
3:19PM ( 14 hours ago )
Indian government approves new emissions targets
Nine months after India announced its target of “net zero” emissions by 2070 at the United Nations climate conference in Glasgow, the country’s federal cabinet finally approved a new climate plan on Wednesday
1:00PM ( 16 hours ago )
AP Business - Industries
Stocks stall on Wall Street amid latest corporate earnings
Stocks shifted between small gains and losses in morning trading on Wall Street Tuesday as investors reviewed the latest corporate earnings for clues on inflation’s continuing impact
11:35AM ( 1 day ago )
BP earnings soar as energy firm profits from rising prices
BP said its earnings from April to June almost tripled from a year earlier, increasing pressure on governments to intervene as energy companies profit from high oil and natural gas prices that are fueling inflation and squeezing consumers
11:30AM ( 1 day ago )
Stocks fall on Wall Street amid earnings, US-China tensions
Stocks are falling in morning trading on Wall Street Tuesday as investors review the latest corporate earnings
10:44AM ( 1 day ago )
AP Business - Utilities
Bank of England likely to raise interest rates — maybe a lot
The Bank of England is likely to announce its biggest interest rate increase in more than 27 years as it seeks to rein in accelerating inflation driven by the fallout from Russia’s invasion of Ukraine
4:29AM ( 55 minutes ago )
EXPLAINER: Why is China staging drills around Taiwan?
China is staging live-fire military drills in six zones surrounding Taiwan in response to a visit by U.S. House Speaker Nancy Pelosi to the island Beijing claims as its own territory
4:07AM ( 1 hour ago )
China claims 'precision missile strikes' in Taiwan Strait
China says it has conducted “precision missile strikes" in the Taiwan Strait as part of military exercises by its navy, air force and other departments in six zones surrounding the island
3:34AM ( 1 hour ago )
Fire triggered by explosions spreads in Berlin city forest
A large fire has broke out in one of Berlin’s biggest forests, triggered by several explosions that took place at an ammunition dump inside the forest
3:31AM ( 1 hour ago )
Ellen Pompeo cutting back on her 'Grey's Anatomy' episodes
Dr_ Meredith Grey will be cutting back her workload next season on “Grey’s Anatomy.”
3:26AM ( 1 hour ago )