Global Shares Mostly Rise as Investors Look to Earnings and Inflation Signs
TOKYO (AP) -- Global shares mostly rose Monday as investors looked ahead to earnings reports from top global companies and a consumer prices report that will be a gauge for U.S. inflation.
France's CAC 40 gained 0.4% in early trading to 8,095.02, while Germany's DAX edged up 0.5% to 18,258.45. Britain's FTSE 100 inched up less than 0.1% to 18,258.45. U.S. shares were set to drift lower with Dow futures down 0.1% at 39,198.00. S&P 500 futures fell nearly 0.1% to 5,248.50.
Japan's benchmark Nikkei 225 jumped 0.9% to finish at 39,347.04. Sydney's S&P/ASX 200 gained 0.2% to 7,789.10. South Korea's Kospi rose 0.1% to 2,717.65. Hong Kong's Hang Seng added less than 0.1% to 16,732.85, while the Shanghai Composite slipped 0.7% to 3,047.05.
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"As risk sentiments look to bounce from earlier jitters, gains may still be somewhat limited, however, as the lead-up to the key U.S. consumer price index this week could leave some reservations in place," said Yeap Jun Rong, market analyst at IG.
The U.S. government releases its March report on consumer prices later this week.
U.S. employers added a surprisingly strong 303,000 workers to their payrolls in March, and the strong job market has helped fuel consumer spending and earnings growth for businesses.
The U.S. Federal Reserve's benchmark interest rate remains at its highest level in two decades as a result of historic rate hikes meant to tame inflation.
Strong employment and consumer spending have raised concerns about getting inflation below 3% and heading toward the Fed's target rate of 2% won't be easy.
Analysts also say energy prices have been rising lately, a sore point for economies like Japan that imports almost all its oil, although they reversed course in Asia Monday.
Adding to the upward pressures have been signs of economic recovery in various regions, which will increase energy consumption. Concerns about the supply and political tensions also tend to push prices higher.
Benchmark U.S. crude fell 90 cents to $86.01 a barrel. It had risen 0.4% higher Friday. Brent crude, the international standards, declined 98 cents to $90.19 a barrel.
In currency trading, the U.S. dollar edged up to 151.89 Japanese yen from 151.61 yen. The euro cost $1.0831, down from $1.0841.