Thursday Morning Cheat Sheet: 3 Stories Moving Markets
Markets advanced in Asia on Thursday. In Japan, the Nikkei broke a three-day losing streak with a 1.22 percent gain and closed at 14,799.1o following news that the nation’s government may cut corporate taxes; the yen weakened slightly to 98.535 against the dollar. In Hong Kong, the Hang Seng fell 0.36 percent to 23,125.03, and in Shanghai, the Composite fell 1.94 percent to 2,155.81, a two-week low, on speculation that the People’s Bank of China will ramp up money market injections. In India, the Mumbai Sensex edged up 0.19 percent to 19,893.85. In Australia, the ASX All Ordinaries climbed 0.34 percent to 5,288.20.
Major European markets were mixed in midday trading. In the U.K., the FTSE 100 was up 0.07 percent; in Germany, the DAX was off 0.07 percent; in France, the CAC 40 was off 0.24 percent; and the Euronext 100 index was off 0.14 percent. The euro weakened slightly to 0.7407 against the dollar.
U.S. equity markets closed down on Wednesday for the fifth consecutive period, having lost steam following the no-taper announcement last week by the Federal Reserve. Fiscal negotiations and the threat of a government shutdown has helped generate uncertainty. Ahead of the bell, Dow futures were up 0.22 percent, S&P 500 futures were up 0.28 percent, and Nasdaq futures were up 0.52 percent.
Here are three stories to keep an eye on.