2023-07-27 18:42:43
Global markets were up Thursday morning. (Photo: The Canadian Press)
MARKET REVIEW. Global markets were up on Thursday morning, the day following the US Federal Reserve decided to raise its director, as Wall Street expected.
Stock indices at 8:30 a.m.
The futures contracts Dow Jones rose by +88.00 points (+0.25%) to 35,772.00 points.
The futures contracts S&P 500 gained +32.00 points (+0.70%) to 4,627.25 points.
The futures contracts Nasdaq rose by +221.50 points (+1.42%) to 15,832.25 points.
In London, the FTSE 100 collected +15.71 points (+0.20%) to 7,692.60 points.
In Paris, the CAC 40 advanced by +134.12 points (+1.83%) to 7,449.19 points.
In Frankfurt, the DAX advanced by +193.17 points (+1.20%) to 16,324.63 points.
In Asia, the Nikkei Tokyo advanced by +222.82 points (+0.68%) to 32,891.16 points.
For his part, the Hang Seng Hong Kong ended up +273.97 points (+1.41%) at 19,639.11 points.
On the side of oilthe price of a barrel of American WTI collected +0.89$ US (+1.13%) to 79.67$ US.
The barrel of Brent from the North Sea gained +0.80$ US (+0.96%) to 83.72$ US.
The context
The Tokyo Stock Exchange reversed steam on Thursday to end higher, supported by other Asian markets as the US Federal Reserve (Fed) rate hikes on Wednesday eased concerns regarding future tightening.
After a break in June, the Fed resumed monetary tightening on Wednesday, raising its key interest rate by a quarter of a percentage point to the highest level since January 2001, a decision that had been widely anticipated by the market.
Although the Fed’s statement “did not signal a slowdown in the pace of rate hikes in its upcoming meetings, many global financial market participants expect it to maintain the status quo at the meeting. September,” commented Stephen Innes in a note from SPI Asset Management.
Investors in Tokyo were also awaiting a decision on Friday from the Bank of Japan (BoJ), which should sharply raise its inflation forecast for the archipelago for the current financial year 2023/24, which might make maintaining its ultra-accommodative monetary policy even more difficult to justify than hitherto.
Nissan lowers volume sales targets
The car manufacturer Nissan (-2.93% to 637.5 yen) raised its forecast for annual results on Wednesday thanks to less negative exchange effects than expected and strict cost management, but lowered its volume sales target because of its difficulties in China.
The group has also undertaken to invest “up to 600 million euros” in Ampere, the future electrical subsidiary of its partner Renault, which is to be listed on the stock market next year.
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