Global stocks rise, Wall Street expected to open higher

A Chinese investor monitors stock prices at a brokerage house in Beijing, Monday, Feb. 12, 2018. Asian stock markets are mostly higher after Wall Street gained following a week of history-making losses. (AP Photo/Mark Schiefelbein)

BEIJING — Global stock markets rose Monday and Wall Street was expected to open higher after gains late Friday ended a turbulent week with a more upbeat mood.

KEEPING SCORE: In Europe, Germany's DAX jumped 1.8 percent to 12,324 and France's CAC 40 advanced 1.4 percent to 5,152. London's FTSE 100 added 1.2 percent to 7,177. The future for the Dow Jones industrial average rose by an unusually large 1.1 percent and that for the Standard & Poor's 500 index gained 1 percent, suggesting a strong open.

ASIA'S DAY: The Shanghai Composite Index rose 0.8 percent to 3,154.13 and Hong Kong's Hang Seng spent most of the day in positive territory before losing 0.2 percent to close at 29,459.63. Japanese markets were closed for a holiday. Seoul's Kospi rose 0.9 percent to 2,385.38 while Sydney's S&P-ASX 200 shed 0.3 percent to 5,820.70. India's Sensex advanced 0.6 percent to 34,192.50 and benchmarks in Taiwan, Singapore and Bangkok also gained.

WALL STREET: A late rally reversed steep losses Friday and lifted the Dow Jones industrial average more than 300 points. The Dow gained 1.4 percent, the S&P 500 rose 1.5 percent and the Nasdaq composite added 1.4 percent. For the week, the three indexes finished down more than 5 percent. They're also now all in the red for the year.

ANALYST'S TAKE: "Higher volatility will likely persist for a little while," said Gaurav Saroliya of Oxford Economics in a report. "The threat to valuation multiples is unlikely to remain as high as it seemed last week. The current equity market turmoil is unlikely to dent continued strong global economic growth. We still see 2018 as the best post-financial crisis year."

U.S. BUDGET BATTLE: Legislators agreed on a $400 billion budget measure after conflicts over immigration and other issues led to the second temporary government shutdown in three weeks. The measure approved Friday increases military spending and provides $89 billion for disaster relief.

WEEK AHEAD: Investors will watch U.S. inflation and retail sales figures on Wednesday particularly closely. Inflation in particular will be of interest as it could affect expectations of more rate increases the Federal Reserve — fear of rate hikes had been one of the triggers of last week's stock market sell-off. Japan reports economic growth on Wednesday and the United States issues factory output data on Thursday.

ENERGY: Benchmark U.S. crude gained 98 cents to $60.18 per barrel in electronic trading on the New York Mercantile Exchange. The contract plunged $1.95 on Friday. Brent crude, used to price international oils, advanced 80 cents to $63.59 in London. It fell $1.98 the previous session.

CURRENCY: The dollar declined to 108.63 yen from Friday's 108.79 yen. The euro gained to $1.2269 from $1.2251.

You may also interested in

Asian markets lower after Wall Street decline

Sep 15, 2016

Asian stock markets were mostly lower Thursday following Wall Street's decline in light trading...

China launches second space station, Tiangong 2

Sep 15, 2016

China has launched its second space station in a sign of the growing sophistication of its...

Global markets mixed after Wall Street loss

Dec 23, 2016

Asian markets are mostly lower while Europe has gained in early trading ahead of the Christmas...

China plans 30,000-km high speed rail network by...

Dec 29, 2016

The Chinese government is planning to expand the country's high-speed rail network to 30,000...

China says some factories have violated anti-smog...

Jan 3, 2017

China's environmental ministry says an unspecified number of companies have violated measures meant...

About Us

Frontal Report is an emerging leader in all forms of media. We aim to be the leading news brand for readers around the world.

Contact us: sales[at]frontalreport.com

Subscribe Now!