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The Breakfast Briefing: Global Stocks Edge Up Amid Questions On Fed Policy
FYI: Global stocks mostly crept higher Thursday as investors weighed the chances of a U.S. interest-rate cut after data showed the nation’s inflation was weaker than expected.
The Stoxx Europe 600 rose 0.2% in the opening minutes of trading. A jump in the price of oil was helping to support shares of European oil companies. The Stoxx Europe 600’s oil & gas subindex rose 0.7%.
Crude’s gains came after a U.K. maritime safety group warned of an unspecified incident in the Gulf of Oman. Tensions between Iran and the U.S. ran high following an attack on four tankers nearby last month. The region’s waters are crucial for the transportation of oil, and fears that tensions would crimp supply helped Brent crude oil to jump 3.1% to $62.64 a barrel.
In Asia, stocks in Shanghai and Shenzhen posted modest advances, but Hong Kong’s Hang Seng slipped 0.1% as protests in the city against unpopular legislation turned violent. Japan’s Nikkei fell 0.5%.
In the U.S., futures pointed to opening gains on Wall Street of 0.2% for the S&P 500 and 0.1% for the Dow Jones Industrial Average.
