Stock market today: World stocks mixed as Wall Street holds steady near record highs

Date:

Share post:


HONG KONG — Global markets were mixed on Wednesday after U.S. stocks held near their record levels in a quiet day of trading.

France’s CAC 40 edged 0.1% higher in early trading to 7,952.76. Germany’s DAX rose 0.2% to 17,589.14. Britain’s FTSE 100 declined 0.2% to 7,665.96.

The futures for the S&P 500 and the Dow Jones Industrial Average were down 0.3%.

In Asian trading, Japan’s benchmark Nikkei 225 edged 0.1% lower to 39,208.03.

Shares in Hong Kong and Shanghai sank even after the territory’s financial chief announced a budget aimed at boosting tourism and the property industry. The Hang Seng in Hong Kong slipped 1.5% to 16,536.85, while the Shanghai Composite sank 1.9% to 2,957.85.

China’s largest private property developer, Country Garden, said Wednesday that it is facing a liquidation petition after failing to repay a term loan facility worth 1.6 billion Hong Kong dollars ($204.5 million). The first hearing in the case is scheduled for May 17.

The move comes after China Evergrande, the world’s most heavily indebted real estate developer, was ordered to undergo liquidation following a failed effort to restructure $300 billion in late January.

Australia’s S&P/ASX 200 was little changed at 7,660.40 after the Australian Bureau of Statistics said Wednesday the country’s inflation rate held at a two-year low in January, triggering hopes that the Reserve Bank may cut its benchmark interest rate.

South Korea’s Kospi gained 1% to 2,652.29, while Thailand’s SET was down 0.8%.

On Tuesday, the S&P 500 added 0.2% was just off its all-time high set last week. The Dow Jones Industrial Average dipped 0.2% and the Nasdaq composite rose 0.4%.

Earnings reporting season is winding down for the big companies in the S&P 500, and the hope is that a remarkably solid U.S. economy will help profits grow through this year.

A report Tuesday morning showed orders for long-lasting manufactured goods were weaker last month than economists expected, but they were better than forecast after ignoring airplanes and other transportation items.

A separate report said that confidence among U.S. consumers unexpectedly slipped. Confidence had been on the upswing, and it’s a closely followed figure on Wall Street because consumer spending makes up the bulk of the U.S. economy.

In other trading, U.S. benchmark crude oil lost 90 cents to $77.97 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, shed 92 cents to $81.74 per barrel.

The U.S. dollar rose to 150.76 Japanese yen from 150.51 Japanese yen. The euro fell to $1.0805 from $1.0843.



Source link

Lisa Holden
Lisa Holden
Lisa Holden is a news writer for LinkDaddy News. She writes health, sport, tech, and more. Some of her favorite topics include the latest trends in fitness and wellness, the best ways to use technology to improve your life, and the latest developments in medical research.

Recent posts

Related articles

Tesla recalling more than 3,000 of its 2024 Cybertrucks due to faulty pedal

Tesla is recalling nearly 4,000 of its 2024 Cybertrucks after it discovered that the accelerator pedal can...

American Express, Fifth Third rise; Netflix, PPG Industries fall, Friday, 4/19/2024

NEW YORK -- Stocks that traded heavily or had substantial price changes on Friday:Alphabet Inc., down $1.92...

Crews turn sights to removing debris from ship's deck in Baltimore bridge collapse cleanup

BALTIMORE -- Salvage crews at the site of the collapsed Francis Scott Key Bridge in Baltimore are...

Next UN climate talks are critical to plot aid for poorer nations, says incoming president

WASHINGTON -- The man who will run United Nations climate talks this November views the negotiations as...

Apple pulls WhatsApp and Threads from App Store on Beijing's orders

HONG KONG -- Apple said it had removed Meta’s WhatsApp messaging app and its Threads social media...

France asks retailers to alert customers to cases of 'shrinkflation'

PARIS -- The French government announced a new rule on Friday that will require stores to tell...

US sanctions fundraisers for extremist West Bank settlers who commit violence against Palestinians

WASHINGTON -- The Biden administration on Friday imposed sanctions on two entities accused of fundraising for extremist...

BNSF Railway says it didn't know about asbestos that's killed hundreds in Montana town

HELENA, Mont. -- BNSF Railway attorneys are expected to argue before jurors Friday that the railroad should...