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13 September 2017
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| Japan financial markets (The Total Investment & Insurance Solutions) |
Global stock markets were mixed Wednesday after U.S. shares rose on
encouraging jobs data while worries about North Korea and twin hurricane
disasters eased. The Total Investment
& Insurance Solutions
KEEPING SCORE: In early trading, London's FTSE 100 declined 0.5 percent
to 7,361.08 points and France's CAC 40 was off just under 0.1 percent at
5,205.08. German's DAX lost just under 0.1 percent to 12,517.85. On Tuesday,
the CAC 40 rose 0.6 percent and the DAX gained 0.4 percent while the FTSE 100
slipped 0.2 percent. On Wall Street, futures for the Dow Jones industrial
average and the Standard & Poor's 500 index were down 0.1 percent.
ASIA'S DAY: Tokyo's Nikkei 225 rose 0.4 percent to 19,865.82 and the
Shanghai Composite Index advanced 0.1 percent to 3,384.15. Hong Kong's Hang
Seng declined 0.3 percent to 27,894.08 and Seoul's Kospi shed 0.2 percent to
2,360.18. Sydney's S&P-ASX 200 was little-changed at 5,744.30. India's
Sensex gained 0.3 percent to 32,363.73. Malaysia and Manila advanced while New
Zealand and Taiwan retreated. The Total
Investment & Insurance Solutions
WALL STREET: Banks rose for a second day and retailers gained after the
Labor Department said numbers of job openings and new hires both grew in July.
That left investors hopeful people will shop and spend more. The Standard &
Poor's 500 index rose 0.3 percent to a record 2,496.48. The Dow Jones
industrial average gained 0.3 percent to 22,118.86, a fraction of a point
higher than its previous record. The Nasdaq composite picked up 0.3 percent, to
6,454.28.
NORTH KOREA: President Donald Trump said Tuesday new U.N. sanctions
"are nothing compared to what ultimately will have to happen" to stop
North Korea's nuclear program. U.S. officials showed Congress satellite images
of illicit trade to highlight the challenge of getting China and Russia to cut
off commerce. The measures fell short of Washington's goals: a potentially
crippling ban on oil imports and freezing the international assets of Kim Jong
Un and his government. The Total
Investment & Insurance Solutions
ANALYST'S TAKE: "Financial markets seem to have abruptly stopped
worrying about the end of the world, with stocks soaring again, bond yields
pushing higher, and safe haven currencies such as the JPY selling off,"
said Rob Carnell of ING in a report. "It won't last. But until the next
risk off event appears, we might as well enjoy it and can focus back on the
underlying macro story." A potential trigger is U.S. threats to restrict
Chinese access to the American financial system, said Carnell. "Were this
U.S. threat to be carried out, we are fairly sure that China would retaliate in
ways that would also hurt the U.S. economically."
STORM DAMAGE: Americans counted the cost of hurricanes Harvey and Irma
but worries about further economic disruption eased. Estimates of damage from
each storm topped $100 billion in wrecked houses, petrochemical plants and
crops of citrus and vegetables. The
Total Investment & Insurance Solutions
APPLE: Apple announced its newest iPhones. The iPhone 8, out Sept. 22,
will be able to shoot pictures with better colors and less distortion. The
iPhone X has an edge-to-edge screen and can be unlocked with facial
recognition. The iPhone is the source of most of Apple's revenue, and some
investors worry supply constraints will slow down sales. Apple closed down 64
cents at $160.86.
ENERGY: Benchmark U.S. crude rose 29 cents to $48.52 per barrel in
electronic trading on the New York Mercantile Exchange. The contract gained 16
cents on Tuesday to close at $48.23. Brent crude, used to price international
oils, added 27 cents to $54.54 in London. It rose 43 cents the previous session
to $53.84.
CURRENCY: The dollar declined to 110.07 yen from Tuesday's 110.15 yen.
The euro gained to $1.1980 from $1.1966.The
Total Investment & Insurance Solutions
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