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QQQ   278.31 (+0.86%)
AAPL   116.18 (+1.83%)
MSFT   210.32 (+1.48%)
FB   262.80 (+0.39%)
GOOGL   1,475.68 (+0.66%)
AMZN   3,164.07 (+0.61%)
TSLA   428.65 (+2.29%)
NVDA   541.95 (+2.44%)
BABA   292.68 (+5.69%)
CGC   14.41 (-0.62%)
MU   47.69 (-5.96%)
GE   6.20 (+1.31%)
AMD   82.41 (+0.78%)
T   28.43 (+0.46%)
F   6.63 (+0.45%)
ACB   4.69 (+0.21%)
GILD   63.02 (+1.48%)
NFLX   499.97 (+1.32%)
DIS   124.29 (-0.89%)
BA   166.45 (+1.74%)
BAC   24.05 (+1.18%)
QQQ   278.31 (+0.86%)
AAPL   116.18 (+1.83%)
MSFT   210.32 (+1.48%)
FB   262.80 (+0.39%)
GOOGL   1,475.68 (+0.66%)
AMZN   3,164.07 (+0.61%)
TSLA   428.65 (+2.29%)
NVDA   541.95 (+2.44%)
BABA   292.68 (+5.69%)
CGC   14.41 (-0.62%)
MU   47.69 (-5.96%)
GE   6.20 (+1.31%)
AMD   82.41 (+0.78%)
T   28.43 (+0.46%)
F   6.63 (+0.45%)
ACB   4.69 (+0.21%)
GILD   63.02 (+1.48%)
NFLX   499.97 (+1.32%)
DIS   124.29 (-0.89%)
BA   166.45 (+1.74%)
BAC   24.05 (+1.18%)
QQQ   278.31 (+0.86%)
AAPL   116.18 (+1.83%)
MSFT   210.32 (+1.48%)
FB   262.80 (+0.39%)
GOOGL   1,475.68 (+0.66%)
AMZN   3,164.07 (+0.61%)
TSLA   428.65 (+2.29%)
NVDA   541.95 (+2.44%)
BABA   292.68 (+5.69%)
CGC   14.41 (-0.62%)
MU   47.69 (-5.96%)
GE   6.20 (+1.31%)
AMD   82.41 (+0.78%)
T   28.43 (+0.46%)
F   6.63 (+0.45%)
ACB   4.69 (+0.21%)
GILD   63.02 (+1.48%)
NFLX   499.97 (+1.32%)
DIS   124.29 (-0.89%)
BA   166.45 (+1.74%)
BAC   24.05 (+1.18%)
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Global shares rise as investors look ahead to Fed meeting

Monday, September 14, 2020 | Yuri Kageyama, AP Business Writer


A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, Sept. 14, 2020. Asian shares are rising, despite the rollercoast ride that closed Wall Street last week, as traders awaited cues from the U.S. central bank expected later in the week. (AP Photo/Vincent Yu)

TOKYO (AP) — Global shares rose Monday, despite the roller-coaster ride that Wall Street ended with last week, as traders awaited cues from the U.S. central bank expected later in the week.

France's CAC 40 gained 0.6% to 5,065.52, while Germany's DAX added 0.4% to 13,255.97. Britain's FTSE 100 picked up 0.3% to 6,049.61.

U.S. shares were set for gains with Dow futures up 1.2% at 27,825.5. S&P 500 futures rose 1.5% to 3,372.38.

SoftBank, which announced Sunday that it was selling Britain’s Arm Holdings to computer graphics chip company Nvidia for $40 billion, jumped 9%. SoftBank spent $32 billion to acquire Arm in 2016. Nvidia is best known for its graphics processing chips, while Arm is renowned as an innovator in the “Internet of Things.”

Japan's ruling Liberal Democratic Party picked a new leader, who will by definition become the prime minister because of the party's control over the more powerful lower house of Parliament. Yoshihide Suga, now the government spokesman, has said he will continue Shinzo Abe's “Abenomics” policies of easy lending and deregulation.

“That decision should not be market moving as we fully expect a steady hand to remain on the tiller of Abenomics. Mr. Suga has signalled that no further rises in sales tax are on the horizon, but all else should stay the same,” said Jeffrey Halley, senior market analyst at Oanda.

“Of more interest will be if Mr. Suga signals that a new election will be held to mandate his new government," Halley said.

Japan's Nikkei 225 gained 0.7% to finish at 23,559.30. Australia's S&P/ASX 200 added 0.7% to 5,899.50. South Korea's Kospi jumped 1.3% to 2,427.91. Hong Kong's Hang Seng rose 0.6% to 24,647.44, while the Shanghai Composite surged 0.6% to 3,278.81.

The Federal Reserve's Open Market Committee will meet this week. The U.S. central bank's massive aid for the economy has helped underpin the markets’ recovery from the coronavirus downturn by slashing short-term interest rates to record lows and buying up bonds to support markets.

The Bank of Japan also is due to hold a policy meeting this week. No major changes are expected in its ultra-lax monetary policies.

Stephen Innes, chief global market strategist at AxiCorp, noted that investors face “many uncertainties," including the U.S. elections and the global pandemic.

“Unquestionably the virus story is the dominant macro pivot event, especially for equities, and is more likely to be dominated by optimism surrounding a vaccine. Indeed investors will be keeping their eye on the vaccine prize,” he said.

Analysts expect swings to continue to rattle markets for weeks, if not months, as investors wait for more clarity on several key issues. At the head of the list of uncertainties is what to do with Big Tech stocks, which critics have long said were due for a slide after soaring too high through the summer.

In energy trading, benchmark U.S. crude rose 5 cents to $37.38 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, was unchanged at $39.83 a barrel.

The U.S. dollar slipped to 105.97 Japanese yen from 106.16 yen on Friday. The euro cost $1.1864, up from $1.1845.

___

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

Companies Mentioned in This Article

CompanyBeat the Market™ RankCurrent PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
NVIDIA (NVDA)1.7$541.95+2.4%0.12%99.62Buy$512.17
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