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13 June 2017
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| Global Stocks (The Total Investment & Insurance Solutions) |
Global stocks were higher Tuesday, with technology shares stabilizing
after two days of bruising losses and as investors looked ahead to an expected
interest rate increase by the U.S. Federal Reserve.
KEEPING SCORE: France's CAC 40 advanced 0.3 percent to 5,257 and
Germany's DAX gained 0.5 percent to 12,751. Britain's FTSE 100 was the only
index to slip, shedding 0.1 percent to 7,507 after a report showed inflation
rose more than expected in the country due to the pound's recent falls. Futures
showed Wall Street opening with modest gains. S&P futures added 0.2 percent
while Dow futures added 0.1 percent. The
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ANALYST'S TAKE: Jingyi Pan, a market strategist at IG in Singapore, said
the focus remained on technology stocks, which had fallen globally since late
last week. "While the extent to which this decline may sustain remains
uncertain at the current moment, the move has not triggered a more widespread
decline," he said. The Total
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FED WATCH: The Federal Reserve will meet Tuesday and Wednesday, and
investors expect the central bank to raise interest rates for the third time
since December. Super-low unemployment, gains in factory output and other
economic data pointing to a recovery in the U.S. economy have led investors to
believe that the Fed will lift rates. The
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ASIA'S DAY: Asian markets finished mostly higher. Japan's Nikkei 225
dipped 0.1 percent to 19,898.75 but South Korea's Kospi rose 0.7 percent to
2,374.70. Hong Kong's Hang Seng advanced 0.6 percent to 25,852.10 while the
Shanghai Composite Index climbed 0.4 percent to 3,153.74. Australia's
S&P/ASX 200 jumped 1.7 percent to 5,772.80. Share benchmarks in Taiwan,
Singapore and Indonesia were higher.
OIL: Benchmark U.S. crude fell 14 cents to $45.94 per barrel on
electronic trading in New York Mercantile Exchange. The contract added 25 cents
on Monday. Brent crude, used to price international oils, dropped 10 cents to
$48.19 per barrel in London. It closed up 14 cents in the previous session.
CURRENCIES: The dollar rose to 110.01 yen from 109.95 and the euro
strengthened to $1.1218 from $1.1204. The British pound stabilized after its recent
tumble and was trading at $1.2732.The
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