Global stocks advance as traders await Fed conference
Global stock markets and Wall Street futures rose Tuesday as traders waited for signs of interest rate plans from this week’s Federal Reserve conference.
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Beijing Global stock markets and Wall Street futures rose Tuesday as traders waited for signs of interest rate plans from this week’s Federal Reserve conference.
London, Shanghai, Paris and Tokyo rose. Oil prices declined. Wall Street’s benchmark S&P 500 index rose Monday for its first gain in five days as tech stocks rallied. Traders hope officials at the Fed’s summer Jackson Hole, Wyoming, conference say they are finished raising interest rates that are at a two-decade high. But forecasters warn they might say inflation isn’t under control yet. Fed Chair Jerome Powell “may even mention that further rate hikes cannot be entirely ruled out,” said Clifford Bennett of ACY Securities in a report. In early trading, the FTSE 100 in London rose 0.2 per cent to 7,274.01. The CAC 40 in Paris advanced 0.9 per cent to 7,265.01 and the DAX in Frankfurt added 0.9 per cent to 15,749.52. On Wall Street, the S&P 500 future was up 0.3 per cent.
