World shares mixed as investors await inflation updates

Tuesday, June 8, 2021 | Elaine Kurtenbach, AP Business Writer

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, June 8, 2021. Stocks edged lower in Asia on Tuesday after a mixed finish on Wall Street, as investors weighed the risks of inflation against signs the recovery from the pandemic is gaining momentum. (AP Photo/Ahn Young-joon)

BANGKOK (AP) — World shares were mixed Tuesday, with European indexes mostly higher after a downbeat session in Asia.

Benchmarks fell in Frankfurt, Tokyo, Hong Kong and Shanghai but rose in London and Paris. U.S. futures declined.

In a subdued opening to the week in New York, the S&P 500 slipped less than 0.1% on Monday but was within 0.2% of the all-time high it reached a month ago.

Japan reported that its economy contracted 1% in the January-March quarter from the previous quarter, instead of the preliminary estimate of minus 1.3%.

A severe coronavirus outbreak that has caused the government to declare a partial state of emergency and tighten pandemic precautions is likely to keep the economy in the doldrums in the current quarter, Makoto Tsuchiya of Oxford Economics said in a commentary.

“However, we remain optimistic that the pace of recovery will pick up in the second half as domestic demand recovers, supported by increased vaccinations, while foreign demand should continue to support the manufacturing sector," he said.

Investors will get another glimpse into the impact of inflation on Thursday with the U.S. Labor Department’s consumer price report for May. Prices on everything from food to clothes and housing have been rising as the economy recovers.

China reports updated inflation data on Wednesday.

Investors and economists are concerned that a steep rise in prices could crimp the recovery and prompt the Federal Reserve and other central banks to withdraw some of its support for the economy such as keeping interest rates ultra-low and buying bonds.

Germany's DAX edged 0.1% lower to 15,661.59 while the CAC 40 in Paris edged 2.22 points higher to 5,545.78. In London, the FTSE 100 picked up 3 points to 7,080.25. The future for the Dow industrials fell 0.2% while that for the S&P 500 slipped less than 0.1%.

In Asian trading, Hong Kong’s Hang Seng was nearly unchanged at 28,781.38 and the Nikkei in Tokyo edged 0.2% lower to 28,963.56. The Shanghai Composite index declined 0.5% to 3,580.11. In Australia, the S&P/ASX 200 gained 0.2% to 7,292.60. In Seoul, the Kospi fell 0.1% to 3,247.83.

The yield on the 10-year Treasury edged down to 1.56% from 1.57% late Monday.

U.S. benchmark crude oil lost 60 cents to $68.63 per barrel in electronic trading on the New York Mercantile Exchange. It lost 39 cents to $69.23 per barrel on Monday. Brent crude, the international standard, declined 60 cents to $70.89 per barrel.

The dollar rose to 109.52 Japanese yen from 109.25 yen. The euro declined to $1.2175 from $1.2192.

Featured Article: Return on Investment (ROI) Defined, Explained

7 Internet of Things Stocks That Are a Perfect Fit to Our Connected Future

When you say the Internet of Things (IoT) you may get different responses. I like to think of it broadly as being about connection. It’s about devices that can connect with each other, and with the internet. And this provides users with the solutions that are making our lives more convenient.

The most basic, and ubiquitous, example of an IoT device is the smartphone that many of us have with us at all times. But think about what that has led to. Home assistants, security cameras, fitness apps, and so much more are all enabled by the internet of things.

IoT took on even more importance in the pandemic as businesses had to find a way to ensure the security and viability of their networks even as their employees were scattered remotely. This created demand for edge and cloud computing solutions that are also facilitated by the internet of things.

And yes, this is just the start. The need for more and more data is powering demand for IoT solution in areas such as autonomous vehicles.

But the good news is that this is an area that is still very much in its growth phase. And that means there is no lack of companies that you can find to trade in this sector. To help you get started, we’ve put together this special presentation that highlights seven such companies and the reasons why we believe they merit adding to your portfolio.

View the "7 Internet of Things Stocks That Are a Perfect Fit to Our Connected Future".

MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.