- China holds off on fresh stimulus but 'confident' will hit growth target
- German suspect in 'Maddie' case faces verdict in sex crimes trial
- Top economic official 'confident' China will hit 2024 growth target
- COP29 fight looms over climate funds for developing world
- Shanghai stocks soar to extend stimulus rally amid Asia-wide drop
- Will Tesla's robotaxi reveal live up to hype?
- 'Invisibility' and quantum computing tipped for physics Nobel
- Oil prices extend gains on Mideast tensions, Wall Street falls
- 'Dark day': Victims mourned around the globe on Oct. 7 anniversary
- Mission to probe smashed asteroid launches despite hurricane
- Oil prices extend gains on Mideast tensions, Wall Street slips
- Europe's asteroid mission Hera launches despite hurricane
- Oil prices extend gains on Mideast tensions, Wall Street retreats
- What is microRNA? Nobel-winning discovery explained
- Weather may delay launch of mission to study deflected asteroid
- China to flesh out economic stimulus plans after bumper rally
- Asian markets track Wall St rally on US jobs data
- World marks anniversary of Oct. 7 attack on Israel
- Asian markets track Wall St rally on jobs data
- Cancer, cardiovascular drugs tipped for Nobel as prize week opens
- Tunisia incumbent Saied set to win presidential vote: exit polls
- 'Difficult day': Oct 7 commemorations begin with festival memorial
- Commemorations begin for anniversary of attack on Israel
- Tunisia voting ends as Saied eyes re-election with critics behind bars
- Drowned by hurricane, remote N.Carolina towns now struggle for water
- Two elephants die in flash flooding in northern Thailand
- Tunisia votes with Saied set for re-election
- Too hot by day, Dubai's floodlit beaches are packed at night
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Italy targets climate activists in 'anti-Gandhi' demo clampdown
- US trade chief defends tariff hikes when paired with investment
- EU court blocks French ban on vegetable 'steak' labelling
- Meta AI turns pictures into videos with sound
- US dockworkers return to ports after three-day strike
- DR Congo to begin mpox vaccination campaign Saturday in east
- Meta must limit data use for targeted ads: EU court
- Oil extends gains, jobs report lifts Wall Street
- US hiring soars past expectations in sign of resilient market
- As EU targets Chinese cars, European rivals sputter
- Top EU court finds against FIFA in key transfer market ruling
- Oil extends gains, Hong Kong stocks resume rally
- 'A man provides': Ukrainian miners send families away as Russia advances
- EU states greenlight extra tariffs on EVs from China
- Hong Kong stocks resume rally, oil dips after Middle East-fuelled surge
- Crude stable after Israel-Iran surge, Hong Kong stocks resume gains
- Hera spacecraft to probe asteroid deflected by defence test
- US dockworkers to head back to work after tentative deal
- After Helene's destruction, North Carolina starts to rebuild
- Dockers end three-day strike at Montreal port
- What next for OpenAI after $157 billion bonanza?
CMSD | -0.09% | 24.79 | $ | |
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Global stocks mixed as markets monitor China, await Powell remarks
Stocks diverged Tuesday after big rallies in Asian markets failed to trigger a similar reaction in Europe and on Wall Street, as investors remained cautious before key US data and speeches this week.
Sentiment was boosted in Asia after China avoided another night of protests, following a weekend of unrest sparked by the country's harsh anti-Covid policies.
The return of some calm helped Hong Kong stocks rally more than five percent and Shanghai more than two percent, with rumbling that the demonstrations could help push leaders to ease some of the strict containment measures.
But Europe's main stock markets were mixed at the end of the day's trading, while two of the three major New York indices retreated.
US investors were in a cautious mood ahead of Wednesday's appearance by Federal Reserve Chair Jerome Powell.
Powell's address at the Brookings Institution comes as markets expect the central bank to soon moderate its policy of aggressive interest rate hikes to counter surging inflation.
Investors were "hesitant" Tuesday as they waited to see if Powell would indeed confirm such a shift, said LBBW's Karl Haeling.
"Markets have a chance to trade higher tomorrow as long as he doesn't deliver any surprise," Haeling said.
Consumer confidence in the United States slipped for a second straight month in November, likely due to a rise in gas prices, according to a survey released by the Conference Board.
Meanwhile, the National Retail Federation estimated that 196.7 million Americans shopped in stores and online in the five-day stretch between last Thursday's Thanksgiving and "Cyber Monday," a better-than-expected result highlighting the resilience of US consumers despite elevated consumer prices.
In Europe, German inflation unexpectedly slowed in November to 10 percent from a record high of 10.4 percent in October, preliminary data showed Tuesday.
Economists however cautioned against assuming inflation was now on a downhill path as households will likely face higher energy costs from January.
"Investors will need to be made of stern stuff going into the new year," Danni Hewson, AJ Bell financial analyst, said in a note.
"Volatility has been a hallmark of 2022 and the word looks set to remain an analyst favorite into the New Year and beyond."
This week's calendar also includes Friday's release of key US jobs data, which could influence the central bank's plans for monetary policy.
- Key figures around 2130 GMT -
New York - Dow: FLAT at 33,852.53 (close)
New York - S&P 500: DOWN 0.2 percent at 3,957.63 (close)
New York - Nasdaq: DOWN 0.6 percent at 10,983.78 (close)
London - FTSE 100: UP 0.5 percent at 7,512.00 (close)
Frankfurt - DAX: DOWN 0.2 percent at 14,355.45 (close)
Paris - CAC 40: UP 0.1 percent at 6,668.97 (close)
EURO STOXX 50: FLAT at 3,934.44 (close)
Tokyo - Nikkei 225: DOWN 0.5 percent at 28,027.84 (close)
Hong Kong - Hang Seng Index: UP 5.2 percent at 18,204.68 (close)
Shanghai - Composite: UP 2.3 percent at 3,149.75 (close)
Brent North Sea crude: DOWN 0.2 percent at $83.03 per barrel
West Texas Intermediate: UP 1.2 percent at $78.20 per barrel
Euro/dollar: DOWN at $1.0332 from $1.0340 on Monday
Dollar/yen: DOWN at 138.67 yen from 138.95 yen
Pound/dollar: DOWN at $1.1952 from $1.1959
Euro/pound: DOWN at 86.42 pence from 86.45 pence
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X.Wong--CPN