Thursday, May 26, 2022

Global stocks mixed ahead of Fed policy statements

TOKYO ( Associated Press) – Global stocks were mixed on Wednesday, with many investors on the sidelines ahead of an update on how aggressively the Federal Reserve will tackle inflation.

France’s CAC 40 rose nearly 1.0% to 6,903.90 in early trade, while Germany’s DAX rose 1.2% to 15,309.64. Britain’s FTSE 100 rose 1.2% to 7,461.86. The future of the Dow Industrialists climbed 0.3% to 34,287.00. S&P 500 futures were up 0.4% at 4,367.50.

Shares have risen this week as markets remain focused on whether the US central bank will clarify How fast it plans to strengthen credit and potentially slow the economy. The Fed’s two-day meeting ends on Wednesday.

At the same time, tensions between Russia and Ukraine continue to attract attention.

Ukrainian leaders Convinced his country that an invasion from neighboring Russia was not imminent, but acknowledged the threat was real and received a shipment of US military equipment to shore up his defence.

Moscow has denied that it is planning an attack, but it has gathered an estimated 100,000 troops near Ukraine in recent weeks and has been conducting military exercises in several places in Russia. This has prompted the United States and its NATO allies to prepare for a possible war.

Read Also:  Losing weight helps big guys double their sperm counts: study says

“Markets remain volatile as investors are still feeling nervous over the very tense Ukraine-Russia situation, a whole range of inflationary issues including a potentially aggressive Fed and a global chip problem that still won’t get better, Edward Moya’s Oanda said in a comment.

Japan’s benchmark Nikkei 225 slipped 0.4% to end at 27,011.33. South Korea’s Kospi ended 0.4% lower at 2,709.24. Hong Kong’s Hang Seng was little changed, rising less than 0.1% to 24,245.17, while the Shanghai Composite rose 0.7% to 3,455.67. Australian markets remained closed for the holiday.

Some on Wall Street worry that the Fed could signal that it is planning a half-point hike in its key rate. There is also concern that Fed Chair Jerome Powell may suggest that the central bank is expecting four times the hike this year than most economists have been expecting.

high inflation is squeezing businesses and consumers, and the Fed is expected to combat it By raising interest rates in 2022. Investors fear the Fed is either moving too late or may be too aggressive.

Epidemic Still looms large over the economy, threatening to curtail progress with every new wave of infections.

Read Also:  Rep. Don Young, longest-serving congressmember, dies at 88

In China, local COVID-19 cases have declined, but some are wary of infections spreading with next week’s Lunar New Year holiday and the Beijing Winter Olympics, which begin on February 4.

The International Monetary Fund cited the Omicron version as the reason for downgrading its forecast. For global economic growth this year.

Mizuho Bank said in a report that it is “in line with the recovery disrupted and dampened by the pandemic.” “Rolling supply-chain kinks, troubling growth and expanding inflation, and dimmer from reopening due to the Omicron version of (COVID) are in the line-up of ‘usual suspects’ for a dimmer recovery in 2022,” it said.

In energy trading, benchmark US crude rose 20 cents to $85.80 a barrel in electronic trading on the New York Mercantile Exchange. On Tuesday, it rose $2.29 to $85.60 a barrel.

Brent crude, the basis for international oil pricing, rose 29 cents to $88.47 a barrel.

In currency trading, the US dollar rose from 113.87 yen to 114.10 yen. The euro is priced at $1.1299, which is less than $1.1300.


Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news
- Advertisement -