Global stocks mostly higher after rise on Wall Street
Global shares were mostly higher Friday, taking their cue from optimism on Wall Street set off by a report showing spending by U.S. consumers growing in July, along with wages and salaries.
KEEPING SCORE: France’s CAC 40 was up 0.7 percent in early trading at 5,121.18, while Germany’s DAX added 0.4 percent to 12,107.80. Britain’s FTSE 100 rose 0.2 percent to 7,447.93. U.S. shares were also set to drift higher, with Dow futures edging up 0.2 percent to 21,994. S&P 500 futures were also higher, up 0.1 percent at 2,473.40.
ASIA’S DAY: Japan’s benchmark Nikkei 225 edged up 0.2 percent to finish at 19,691.47, while Australia’s S&P/ASX 200 added nearly 0.2 percent to 5,724.60. South Korea’s Kospi lost 0.2 percent to 2,357.69. Hong Kong’s Hang Seng was little changed at 27,969.38. The Shanghai Composite rose 0.2 percent to 3,367.12. Most Southeast Asian markets were closed for a holiday.
UPBEAT U.S.: The U.S. Commerce Department said consumer spending grew at its fastest pace in three months. Companies that sell everything from cosmetics to toys to shoes advanced as investors bet Americans would shop more. Biotech drug companies, drug distributors, and scientific equipment companies made some of the biggest gains in health care. Technology companies advanced for the fourth day in a row and closed at record highs.
ENERGY: Benchmark U.S. crude slipped 46 cents to $46.77 a barrel. It jumped $1.27 to $47.23 a barrel in New York on Thursday, recouping recent losses over Tropical Storm Harvey as the rains hitting the Gulf Coast began to abate. Brent crude, used to price international oils, fell 28 cents to $52.58 a barrel in London.
CURRENCIES: The dollar dipped to 110.17 yen from Thursday’s 110.53 yen. The euro rose to $1.1885 from $1.1876.
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