iPhone | iPad
Android
Huawei
Streets and infrastructure in three cities suffer extensive damage as Israeli forces dig up roads and destroy houses
KT APPDOWNLOAD
Global stocks salute signs of trade truce
Shares rose in early European trading, tracking gains on Wall Street and in Asia.
Shares rose in early European trading, tracking gains on Wall Street and in Asia. France's CAC 40 edged up nearly 0.3 per cent in early trading to 5,070.33, while Germany's DAX was 0.4 per cent higher at 11,175.29. Britain's FTSE 100 edged up nearly 0.5 per cent to 7,165.82.
At 6.33am ET, Dow e-minis were up 70 points, or 0.28 per cent.
S&P 500 e-minis were up 6 points, or 0.22 per cent and Nasdaq 100 e-minis were up 29.75 points, or 0.42 per cent.
ET is expected to show that the consumer price index rose 0.1 per cent in January after recording a drop of 0.1 per cent in December.
US President Donald Trump said on Tuesday that he might let a March 2 deadline slide in trade talks with China if the two countries get close to a deal. Earlier, the White House had said it was a "hard deadline."
"There's still a level of uncertainty there but at least the rhetoric does not show he is digging his heels in, so the market has quite rightly taken it as a positive," said Justin Onuekwusi, fund manager at Legal & General Investment Management.
"But of course the key thing is he can change his mind."
Both nations are trying to reach a deal before additional tariffs are due to kick in, escalating the conflict and further hurting companies and consumers with higher prices for materials and products.
Investors welcomed this further sign US inflation is cooling as adding to the Federal Reserve's argument against raising rates.
"The Fed's new reaction function is they need to see inflationary pressures before they hike again, and clearly we've seen those inflationary pressures aren't there," said Mohammed Kazmi, portfolio manager at UBP in Geneva.
Investors remained concerned about underlying trends of slowing economic growth and weaker earnings. Analysts have slashed their 2019 earnings growth estimates for developed stocks from around 10 per cent to 5 per cent.
As investors went back into risky assets, they sold safe-haven government bonds, driving yields up. The 10-year US Treasury yield hit a one-week high at 2.700 per cent.
The trade dispute is detrimental to the export-dependent Asian region, and a slowdown in growth in China is hurting neighbouring economies.
Japan's benchmark Nikkei 225 added 1.3 per cent to finish at 21,144.48. Hong Kong's Hang Seng added 1.2 per cent at 28,497.59. The Shanghai Composite index jumped 1.8 per cent to 2,721.07. In other markets, Australia's S&P/ASX 200 slipped 0.3 per cent to 6,063.60 and South Korea's Kospi edged up 0.5 per cent to 2,201.48. Shares were mostly higher in Southeast Asia.
"The rally in stocks has been based on hope rather than any concrete agreements overnight," warned Oanda senior analyst Jeffrey Halley, predicting short-term volatility to come as headlines emerge from Beijing.
The dollar rose to 110.71 yen from 110.50 yen Tuesday. The euro strengthened to $1.1324 from $1.1285.
The pound weakened after official data showed UK inflation hit a two-year low and as the Brexit impasse drags on without a breakthrough in sight. - AP, AFP, Reuters
More news from
Analysts had predicted a slight uplift in growth for July
Ties between the world's two most populous nations have been strained
The attack comes two days after Pakistan launched its latest national campaign to stamp out the virus
The model will establish Adobe in the growing market
The union called on the government to scrap the plan to lease the airport to Adani
Payouts jumped to a record $606.1 billion in the second quarter
Electric models made up less than 2% of the 4.2 million cars sold in India last year, but the government wants to grow this to 30% by 2030