|Day's Range||23,833.92 - 24,033.79|
|52 Week Range||20,213.66 - 24,129.34|
Global stocks were mixed Wednesday, with stocks in China rising to an 8-week high, as investors took advantage of a lull in the U.S.-China trade war and focused on today's interest rate decision from the U.S. Federal Reserve. Oil prices extend gains following yesterday's comments from President Donald Trump that OPEC is "ripping off" the world and his vow to impose further sanctions on Iran. European stocks slip as the euro holds gains against the dollar and domestic political pressure continues to build on Angela Merkel's fragile coalition government in Germany.
AG profit warning weighed on European markets. Asian shares ended mainly higher, while the Stoxx Europe 600 was down 0.1%, with Italy’s FTSE MIB 0.2% lower. The region’s car markers fell on Tuesday’s profit warning from BMW.
SINGAPORE (AP) — European markets were flat Wednesday following a day of gains in Asia as traders awaited an expected interest rate hike by the U.S. Federal Reserve.
A Chinese equity bounce set a modestly positive tone for world stocks on Wednesday as bets that Beijing would expand stimulus to support its economy helped offset some of the worries about global trade tensions and $80-a-barrel oil. World stocks hung not far off six-month highs, but sentiment remains in check as U.S. benchmark bond yields stand close to seven-year peaks and investors weigh how much more policy tightening is in store from the U.S. Federal Reserve. Shanghai-listed shares closed almost one percent higher at eight-week highs (.SSEC) after global index provider MSCI (MSCI.N) said it could quadruple China's weighting in global benchmarks.
A Chinese equity bounce set a modestly positive tone for world stocks on Wednesday as bets that Beijing would expand stimulus to support its economy helped offset some of the worries about global trade tensions and $80-a-barrel oil. World stocks hung not far off six-month highs, but sentiment remains in check as U.S. benchmark bond yields stand close to seven-year peaks and investors weigh how much more policy tightening is in store from the U.S. Federal Reserve. Beijing is not expected to follow U.S. Federal Reserve in raising interest rates this week.
Investing.com - Asian equities extended gains in afternoon trade on Wednesday as traders awaited the conclusion of the Federals Reserve’s latest policy meeting.
Japan's Nikkei rose for an eighth session in choppy trade on Wednesday as hopes for a U.S. rate hike lifted futures and large-cap stocks such as Fast Retailing and SoftBank, offsetting weakness in high-yielders like automakers trading ex-dividend. The Nikkei dipped into negative territory in early trade but investors were looking to the U.S. market later in the day, analysts said.
Investing.com - Asian equities were mostly higher in morning trade on Wednesday even after U.S. President Donald Trump said on Tuesday that his country would “no longer tolerate abuse” on trade.
Japan's Nikkei fell on Wednesday morning, snapping a seven-day winning streak as high-yielders such as automakers traded ex-dividend, while chip-related stocks were hit by weakness in their U.S. peers overnight. About 155 points were cut from the Nikkei by the ex-dividend price adjustment, according to market participants. Toyota Motor Corp fell 2.0 percent, Nissan Motor Co tumbled 4.3 percent, Mizuho Financial Group declined 2.8 percent, Sumitomo Mitsui Financial Group shed 2.4 percent and Nomura Holdings slid 2.2 percent.
Hong Kong stocks opened solidly higher Wednesday, leading a mostly up day across Asian markets. Japan’s Nikkei stock index was the region’s laggard.
On Tuesday, President Trump reiterated his administration’s stance on trade, telling the United Nations General Assembly that his country would “no longer tolerate abuse” on that front. The major U.S. stock indexes settled mixed on Tuesday with the S&P 500 Index and Dow Jones Industrial Average posting losses, and the NASDAQ Composite finishing slightly better. This was the same way they finished on Monday. The Conference Board’s Consumer Confidence report came in well above expectations at 138.4. The previous month was also revised higher to 134.7. This was its highest level in about 18 years. The all-time high of 144.7 was reached in 2000.
It turns out that I joined the staff of the Financial Times, officially on New Year’s Day 1990, just as the Japanese stock market had hit an all-time high (December 31 1989). For a generation now, the prolonged malaise of Japanese stocks after their bubble burst in 1989 has stood as a polar case, a warning of what can happen. When I started covering personal finance a year later, Japan had sold off hard, but remained relatively isolated from the potential effects of the Gulf war, which was about to break out into a full-blown shooting war.
Kiwi Dollar spikes on less pessimistic business sentiment, with Trump and Powell in the spotlight later today to hit the Dollar and the majors.
Live from the floor of the New York Stock Exchange, Yahoo Finance's Jared Blikre joins Dion Rabouin to discuss the latest market moves.