Stocks around the world were mixed on Thursday as concerns over China’s economic woes and fresh US interest rate hikes weighed on them.
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Apple’s share price fell for the second trading session in a row after the Wall Street Journal reported that China is banning the use of iPhones in central government offices.
Recently released US economic data has raised concerns that the US Federal Reserve (FRS) will continue to raise interest rates. Data released Thursday showed that the number of new claims for unemployment benefits in the United States registered an unexpected drop last week.
“It’s really good news in terms of the economy, but it’s also news that, in terms of monetary policy, will make the FRS long to maintain its accommodative stance,” said Briefing.com market analyst Patrick O’Hare.
The FRS has raised interest rates 11 times since last March in an attempt to control rising inflation. In July, its key interest rate was raised to a 22-year high.
The Dow Jones Industrial Average rose 0.2% to 34,500.73 points on Thursday, the Standard & Poor’s 500 index fell 0.3% to 4,451.14 points, while the Nasdaq Composite index fell by 0.9% to 13,748.83 points.
London’s FTSE 100 rose 0.2% to 7,441.72 on Thursday, Frankfurt’s DAX fell 0.1% to 15,718.66 and Paris’ CAC 40 added less than 0.1% to 7196.10 points.
WTI crude oil fell 0.8% to $86.87 a barrel in electronic trading on the New York Stock Exchange on Thursday. “Brent” crude oil price on the London exchange decreased by 0.8% to 89.92 dollars per barrel.
The price of natural gas in the Dutch “Title Transfer Facility” (TTF) exchange increased by 5.4% to 32.76 euros per megawatt hour on Thursday.
The euro fell to $1.0701/euro from $1.0727 to $1.0701/euro on Thursday, the British pound was down from $1.2507 to $1.2474/pound to the dollar, and the dollar/Japanese yen was down from 147.66 to 147.25 yen per dollar. The value of the euro against the British pound was practically unchanged and at the end of the trading session was 85.76 pence per euro.
2023-09-08 05:09:37
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