World stocks mixed ahead of key U.S. data

by Jonathan Adams
World stocks mixed

CAC 40 declined 0.4% to 8,006.66, DAX slid 0.4% to 18,571.98, FTSE 100 lost 0.3% to 8,257.46, Nikkei 225 dropped 0.1% to 38,683.93, Hang Seng index shed 0.6% to 18,366.95, the Shanghai Composite index was 0.1% higher at 3,051.28, S&P/ASX 200 jumped 0.5% to 7,860.00, and Kospi soared 1.2% to 2,722.67

World stocks were mixed Friday after a steady Thursday on Wall Street as markets anticipated the release of key U.S. payrolls data later in the day.

The futures for the DJIA and the S&P 500 were less than 0.1% higher.

European stocks dropped in the early trading after the ECB cut its key interest rate from a record high of 4% on Thursday, leaving uncertainties for the policy’s next move.

France’s CAC 40 declined 0.4% to 8,006.66, and Germany’s DAX slid 0.4% to 18,571.98. Britain’s FTSE 100 lost 0.3% to 8,257.46.

Japan’s benchmark Nikkei 225 dropped 0.1% to 38,683.93 after Friday data showed household spending in April was up 0.5% year-on-year. This was the first rise since February 2023 and is a key indicator in assessing the country’s economy as central bank officials prepare to hold a policy meeting next week.

Hong Kong’s Hang Seng index shed 0.6% to 18,366.95, while the Shanghai Composite index was 0.1% higher at 3,051.28 as China trade data showed that exports in May rose faster than expected at 7.6% compared to a year earlier, while imports were weaker than market forecasts.

Australia’s S&P/ASX 200 jumped 0.5% to 7,860.00. South Korea’s Kospi soared 1.2% to 2,722.67.

The S&P 500 barely budged on Thursday, a day after jumping to a record high for the 25th time this year. It slipped less than 0.1% to 5,352.96. The DJIA gained 0.2% to 38,886.17, while the Nasdaq composite slid 0.1% to 17,173.12 after hitting its own record.

Many retailers and other companies have been highlighting a split between their customers making lower and higher incomes. Inflation is especially hurting those at the lower end, who are struggling to keep up with a cost of living that’s still rising, even if inflation is not as fast as before.

Another factor that’s helped U.S. consumer spending stay so strong has been a remarkably solid job market. A report on Thursday showed some potential softening there as well.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of Trading and Investment News. The information provided on Trading and Investment News is intended for informational purposes only. Trading and Investment News is not liable for any financial losses incurred. Conduct your own research by contacting financial experts before making any investment decisions.

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