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S&P 500   3,693.23
DOW   29,590.41
QQQ   275.51
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EXPLAINER: Italian election only part of forming government
S&P 500   3,693.23
DOW   29,590.41
QQQ   275.51
Become an Ethical Hacking and Cybercrime Expert
New Shift Could Soon Affect All Americans (Ad)pixel
Will Wall Street's Enthusiasm About Datadog Lead To Big Gains?
MarketBeat: Week in Review 9/19 – 9/23
How You Should Be Choosing Your Stocks (Ad)pixel
China using civilian ships to enhance navy capability, reach
German leader seeks energy deals, alliances on Gulf trip
How You Should Be Choosing Your Stocks (Ad)pixel
Kim Kardashian culls Dolce & Gabbana archives for Milan show
EXPLAINER: Italian election only part of forming government
S&P 500   3,693.23
DOW   29,590.41
QQQ   275.51
Become an Ethical Hacking and Cybercrime Expert
New Shift Could Soon Affect All Americans (Ad)pixel
Will Wall Street's Enthusiasm About Datadog Lead To Big Gains?
MarketBeat: Week in Review 9/19 – 9/23
How You Should Be Choosing Your Stocks (Ad)pixel
China using civilian ships to enhance navy capability, reach
German leader seeks energy deals, alliances on Gulf trip
How You Should Be Choosing Your Stocks (Ad)pixel
Kim Kardashian culls Dolce & Gabbana archives for Milan show
EXPLAINER: Italian election only part of forming government
S&P 500   3,693.23
DOW   29,590.41
QQQ   275.51
Become an Ethical Hacking and Cybercrime Expert
New Shift Could Soon Affect All Americans (Ad)pixel
Will Wall Street's Enthusiasm About Datadog Lead To Big Gains?
MarketBeat: Week in Review 9/19 – 9/23
How You Should Be Choosing Your Stocks (Ad)pixel
China using civilian ships to enhance navy capability, reach
German leader seeks energy deals, alliances on Gulf trip
How You Should Be Choosing Your Stocks (Ad)pixel
Kim Kardashian culls Dolce & Gabbana archives for Milan show
EXPLAINER: Italian election only part of forming government

Global shares mostly gain as investors await Fed rate hike


A currency trader walks by screens showing the Korea Composite Stock Price Index (KOSPI), left, and foreign exchange rates bat a foreign exchange dealing room in Seoul, South Korea, Monday, Sept. 19, 2022. Asian shares fell Monday after another week of sizable losses on Wall Street, as investors brace for another interest rate hike by the U.S. Federal Reserve. (AP Photo/Lee Jin-man)

TOKYO (AP) — Global shares mostly rose Tuesday, after Wall Street closed higher on a late flurry of buying as investors awaited another interest rate increase by the U.S. Federal Reserve.

France's CAC 40 slipped 0.5% in early trading to 6,034.21. Germany's DAX lost 0.3% to 12,763.74. Britain's FTSE 100 rose 0.3% to 7,258.85. The future for the Dow industrials was unchanged while the contract for the S&P 500 edged less than 0.1% higher.

Markets have been jittery over whether the Fed’s plan to cool the hottest U.S. inflation in four decades might be too aggressive and throw the economy into a recession by pumping the brakes on growth too hard.

But expectations of the rate hike have already been taken into account, analysts said.

Federal Reserve Chair Jerome Powell bluntly warned in a speech last month that the Fed’s drive to curb inflation by aggressively raising interest rates would “bring some pain.” On Wednesday, Americans may get a better sense of how much pain could be in store.

The Fed is expected at its latest meeting to raise its key short-term rate by a substantial three-quarters of a point for the third consecutive time. Another hike that large would lift its benchmark rate — which affects many consumer and business loans — to a range of 3% to 3.25%, the highest level in 14 years.

Japan reported that its consumer inflation jumped in August to 3.0%, its highest level since November 1991 but well below the 8% plus readings in the U.S. Core inflation excluding volatile fresh food prices climbed 2.8%. The Bank of Japan is set to have a two-day monetary policy meeting later this week, although analysts expect the central bank to stick to its easy monetary policy.

“Expectations are that easy monetary policies are to remain in the upcoming meeting this week. The BOJ Gov. Haruhiko Kuroda previously mentioned that he wanted to see a ‘stable and sustainable rise’ in both wages and prices before considering any policy shift,” Yeap Jun Rong, a market strategist at IG in Singapore, said in a report.


Japan’s benchmark Nikkei 225 added 0.4% to finish at 27,688.42. Australia’s S&P/ASX 200 jumped 1.3% to 6,806.40. South Korea’s Kospi added 0.5% to 2,367.85. In China, where the loan prime rate was kept unchanged, the Shanghai Composite added 0.2% to 3,122.41. Hong Kong’s Hang Seng added 1.2% to 18,781.42.

Min Joo Kang, senior economist, South Korea and Japan, at ING Economics noted inflation remained relatively low in Japan, with energy prices rising, for instance, but not as much as in the U.S. or some parts of Europe. Housing prices haven't risen and household income have remained stagnant.

“We think a lack of demand-side pressures is a key reason for low inflation. With little sign of improvement in household income, CPI inflation will likely fall below 2% next year,” Kang said.

The U.S. market endured its worst week in three months last week following a surprisingly hot report on inflation and big companies, including FedEx, warning about worsening trends in the economy.

Investors will get another update on the housing sector Wednesday when the National Association of Realtors releases August figures for sales of previously occupied homes.

Average long-term U.S. mortgage rates climbed above 6% last week for the first time since the housing crash of 2008. The higher rates could make an already tight housing market even more expensive for American homebuyers.

In energy trading, benchmark U.S. crude gained 65 cents to $86.38 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, picked up 91 cents to $92.91 a barrel.

In currency trading, the U.S. dollar edged up to 143.66 Japanese yen from 143.20 yen. The euro fell to $1.0009 from $1.0024.

___

Yuri Kageyama is on Twitter https:/twitter.com/yurikageyama

7 Sports Betting Stocks to Buy for Their Long-Term Possibilities

Since 2018, one of the most compelling sectors for growth-oriented investors is the sports betting sector. That was the year the U.S. Supreme Court allowed states to legalize sports betting. Since then 30 states have taken that step including New York and New Jersey which are two key markets. In fact, the state of New York broke a record when it legalized online sports betting in January 2022.

This makes it a good time to consider investing in sports betting stocks. Many of these stocks are trading at significant discounts as part of the broad market sell-off. The reason for this is competition. There are a nearly endless number of online sportsbooks competing for consumer dollars.

And it would appear there's enough revenue to go around. According to Data Bridge Market Research, the global sports betting market is expected to grow at a compound annual growth rate of 10.26% between now and 2029.

With that said, sports betting stocks are definitely risk-on assets. And the payoff may be years away.  But if you have time and have a tolerance for risk, here are seven sports betting stocks to consider for solid upside gains.

View the "7 Sports Betting Stocks to Buy for Their Long-Term Possibilities".

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