On corporate earnings reports, global equities are mostly up.


On corporate earnings reports, global equities are mostly up.

Traders said world stock markets were mainly higher on Wednesday as investors shrugged aside concerns about rising inflation and instead focused on positive corporate earnings reports.

Prices rose 0.2 percent in London, 0.7 percent in Frankfurt, and 0.7 percent in Paris as European stock exchanges closed the day in the black.

The Dow Jones Industrial Average, on the other hand, was down 0.3 percent on Wall Street as investors analyzed the latest inflation statistics and the implications for the Federal Reserve’s plans to tighten monetary policy.

Traders were also looking forward to the release of minutes from the Fed’s most recent meeting and the start of the US earnings season, as concerns about a worldwide energy shortage weighed on confidence.

“We know the taper is coming, the question is how soon the Fed acts to manage inflation by hiking rates,” said Markets.com analyst Neil Wilson.

Inflation stayed at a high 5.4 percent in September, according to US Labor Department data, compared to the same month last year.

With the world’s largest economy on the mend, the Federal Reserve of the United States has already indicated that it will begin to phase down the substantial financial aid provided at the outset of the pandemic.

However, supply chain bottlenecks, skyrocketing demand fueled by reopenings, and rising fuel costs have pushed inflation to new highs in recent months, putting pressure on bank CEOs to act to keep prices from spiraling out of control.

Long periods of higher-than-targeted inflation are raising anticipation that the Fed will have to raise interest rates after its mammoth bond-buying program is completed.

Concerns over a worldwide energy shortage jangled nerves, and Asian markets were mixed as well.

Tokyo, Sydney, Manila, and Taipei all fell, while Seoul, Singapore, Mumbai, Jakarta, and Wellington all rose. The city of Hong Kong was closed due to a typhoon.

Shanghai gained amid better-than-expected export statistics and ahead of China’s inflation data on Thursday.

New York – The Dow Jones Industrial Average is down 0.3 percent at 34,263.96 points.

The FTSE 100 index in London is up 0.2 percent at 7,141.82. (close)

DAX is up 0.7 percent at 15,249.38 in Frankfurt (close)

CAC 40 in Paris is up 0.7 percent at 6,597.38. (close)

EURO STOXX 50: 4,083.28 is up 0.7 percent.

Nikkei 225 in Tokyo is down 0.3 percent at 28,140.28. (close)

Shanghai Composite: 3,561.76, up 0.4 percent (close)

The Hang Seng Index in Hong Kong has been closed due to the storm.

Euro/dollar: $1.1568 is up from $1.1530. The Washington Newsday Brief News is a daily newspaper published in Washington, D.C.


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