Global stocks mixed as investors await US inflation data

Tuesday, September 14, 2021 | Joe Mcdonald, AP Business Writer


A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Tuesday, Sept. 14, 2021. Asian stock markets were mixed Tuesday as investors waited for an update on U.S. inflation that has been stronger than expected. (AP Photo/Vincent Yu)

BEIJING (AP) — Global stock markets were mixed Tuesday as investors waited for an update on U.S. inflation that has been stronger than expected.

London and Shanghai declined while Frankfurt and Tokyo advanced, with the benchmark Nikkei 225 hitting a 31-year high.

Wall Street futures were higher a day after the benchmark S&P 500 index closed higher, snapping a five-day losing streak.

Investors were watching for August inflation data. Headline inflation stands above 5% as consumer and business activity revives.

The price spike has prompted fears the Federal Reserve might feel pressure to roll back easy credit and other stimulus that boosts share prices. But Fed officials have indicated they believe the surge is temporary and they will keep interest rates low until a recovery is established.

“Risks may be tilted to the upside,” Eugene Leow of DBS said in a report. “Excessively loose monetary policy may not increase output or employment but may worsen price pressures and distort market signals further.”

In early trading, the FTSE 100 in London lost 0.4% to 7,043.76 while Frankfurt's DAX gained less than 0.1% to 15,713.20. The CAC 40 in Paris shed 0.7% to 6,630.38.

On Wall Street, futures for the S&P 500 and the Dow Jones Industrial Average were up less than 0.1%.

On Monday, the S&P 500 rose 0.2%, boosted by bank, energy and communications stocks. The S&P 500 was coming off its biggest weekly drop in three months.

The Dow rose 0.8% while the Nasdaq composite slipped 0.1%.

Trading on Wall Street is choppy as investors try to figure out how the economy will develop as the spread of the coronavirus’s more contagious delta variant and measures to contain it hurt consumer spending and job growth.

U.S. retail sales in August are due to be reported Thursday.

In Asia, the Shanghai Composite Index fell 1.4% to 3,662.60 and the Hang Seng in Hong Kong lost 1.2% to 25,504.74. The Nikkei 225 in Tokyo gained 0.7% to 30,670.10, its highest close since Aug. 1, 1990, when Japan's economy was in the throes of the bursting of a massive asset price bubble.

The Kospi in Seoul rose 0.7% to 3,148.83 while Sydney's S&P-ASX 200 advanced 0.2% to 7,437.30.

India's Sensex gained 0.2% to 58,283.75. New Zealand and Bangkok retreated while Singapore and Jakarta gained.

In energy markets, benchmark U.S. crude gained 61 cents to $71.06 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 73 cents on Monday to $70.45. Brent crude, used to price international oils, advanced 67 cents to $74.18 per barrel in London. It added 59 cents the previous session to $73.51 a barrel.

The dollar was little-changed at 110.01 yen. The euro advanced to $1.1824 from $1.1804.


7 Tech Stocks That Are Heating Up as Anti-Trust Talk Cools Down

For the better part of the last year, Congress has had “big tech” in its crosshairs. But the reasons why largely depend on what side of the aisle a particular individual was on.

On the one hand, there are politicians who are concerned about the role that technology companies play in restricting the free flow of information. On the other hand, there are politicians that are concerned about these companies' stranglehold on competitors and innovation.

But big tech scored an important, albeit not final, victory in late June. At that time, a U.S. judge dismissed two separate complaints against Facebook (NASDAQ:FB). The question in front of the judge was whether Facebook held a monopoly on social media. Due to a surge in the company’s stock price after the ruling, Facebook became a member of the exclusive $1 trillion market cap club. While big tech companies will remain under the Congressional microscope, there’s no denying that investors are looking at the ruling as a signal to rotate back into tech stocks. And that’s the focus of this presentation. What tech stocks should you be buying as anti-trust pressure eases?

It would be easy to start and end the list with the FAANG stocks. After all, the motto “Keep it Simple Stupid” comes to mind. There are simply those companies that offer products that are changing our lives now and will continue to do so in the future. And furthermore, customers will continue to pay for their products.

And I do have a couple of these stocks on my list. But the bulk of the stocks on this list are less expensive alternatives to at least one of the FAANG stocks. It doesn’t mean they’re superior companies, but a rising tide tends to lift all boats. And that means these companies have a large upside and you can purchase the stocks for a lot less.

View the "7 Tech Stocks That Are Heating Up as Anti-Trust Talk Cools Down".


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