Wall Street stocks are higher in afternoon trade with the biggest boost from the financial sectors as investors bet on strong economic growth a day ahead of the US Federal Reserve's widely-expected rise in interest rates.
Wednesday, 13th December, 2017
Earlier in the day, a Labor Department report showed US producer prices rose in November as petrol prices surged and the cost of other goods increased, leading to the largest annual gain in nearly six years and pointing to a broad acceleration in wholesale inflation pressures.
In late afternoon, the Dow Jones Industrial Average was up 0.59 percent, to 24,529.63, the S&P 500 had gained 0.33 percent, to 2,668.67 but the Nasdaq Composite had dropped 0.09 percent, to 6,869.20.
Mergers and acquisitions helped boost European stocks on Tuesday, while strength in oil stocks after a pipeline shutdown helped lift a key regional benchmark index to five-week highs. The pan-European STOXX 600 index up 0.66 percent, its highest level since November 9, while euro zone blue chip stocks rose 0.4 percent, helped by a late drop in the euro. Germany's DAX gained 0.46 percent, to 13,183.53. UK shares rose to their highest in a month as rising oil prices boosted energy stocks and the pound retreated, even though British UK inflation rose to its highest in six years. The blue-chip FTSE 100 closed up 0.63 percent at 7500.79 points, a level not reached since November 9, settling at 7,500.41, still a 0.63 percent lift.
Asian shares took a small step back on Tuesday after three straight sessions of gains, with markets consolidating in the hope an upswing in global growth could outlast a likely rise in US borrowing costs this week. MSCI's Asia ex-Japan stock index was down 0.33 percent while Japan's Nikkei index lost 0.32 percent to 22,866.17. Hong Kong stocks dropped, as index heavyweight Tencent slumped more than 3 per cent, and declines in other technology shares also weighed on sentiment. The Hang Seng index fell 0.59 percent to 28,793.88.
Ahead of the local open SPI futures were 10 points higher at 6,028.
|Foreign Equities||Close||Change||% Change|
|Dow Jones (US)||24505||
|FTSE 100 Index||7500||47||0.63|
|Nikkei 225 (Japan)||22866||-73||-0.32|
|Oil - West Texas Crude||/t 3mth||57.1||-0.9||-1.47|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.7560||0.0034||0.45|
|$A vs GBP||0.5674||0.0036||0.65|
|$A vs EUR||0.6435||0.0043||0.68|
|$A vs YEN||85.83||0.36||0.42|
|$A vs NZD||1.0894||0.0001||0.01|