Ultimate magazine theme for WordPress.

Global stocks push higher after Wall St record

Unlike most economies, the country is struggling to keep prices rising after decades of stagnant growth as its population shrinks and ages.

J -anese Prime Minister Fumio Kishida’s cabinet on Friday  -proved a 56 trillion yen ($ 490 billion) government spending package designed to boost growth in the world’s third largest economy.

In early European trading, the FTSE rose 0.4% to 7,281.94 and the Frankfurt Dax opened 0.2% lower at 16,249.16. The CAC 40 in Paris rose 0.5% to 7,178.31.

Futures on the S&P 500 index and the Dow Jones Industrial Average rose 0.3%.

On Thursday the S&P was up 0.3% while the Dow was down 0.2%. The Nasdaq composite gained 0.5%.

In Asia, the Shanghai Composite Index rose 1.1% to 3,560.37 and the Nikkei 225 in Tokyo rose 0.5% to 29,745.87. Hong Kong’s Hang Seng fell 1.1% to 25,049.97.

The Kospi in Seoul gained 0.8% to 2,971.02 and the S&P ASX 200 from Sydney gained 0.2% to 7,396.50.

Indian markets were closed for a public holiday. New Zealand, Sing -ore and Bangkok fell while Jakarta rose.

On Wall Street, two-thirds of the companies in the S&P 500 fell Thursday. Gains by large tech companies and retailers offset losses in other sectors as investors valued recent corporate earnings.

US stocks have rallied since early October as companies posted stronger-than-expected earnings.

Companies in the S&P 500 reported total earnings growth of 39%. That beats previous June forecasts for 23% growth for the quarter.

Companies face higher raw material costs and supply chain problems. Consumers have coped with price increases so far, but analysts fear that if prices continue to rise, they could ultimately cut spending.

In the energy markets, the reference value for US crude oil in electronic trading on the New York Mercantile Exchange rose by 35 cents to USD 78.76 per barrel. Brent crude, which is used as the price basis for international oils, rose 30 cents to $ 81.54 a barrel in London.

The dollar fell to 114.12 yen from 114.27 yen on Thursday. The euro fell from $ 1.1370 to $ 1.1291.

Comments are closed.

%d bloggers like this: