Global markets drifted lower Monday, as investors considered the outlook for U.S. inflation and international economic recovery.
In early afternoon trading in Hong Kong, the local benchmark Hang Seng Index lost 0.6%. Benchmarks in Japan and Australia also slipped, while U.S. equity futures ticked up about 0.1%. Some other markets, including South Korea and Taiwan, advanced. U.S. markets are closed Monday for Memorial Day, and their U.K. equivalents are also closed for a public holiday. For the whole of May, the S&P 500 recovered from inflation-driven volatility earlier in the month to record itsMarkets were likely to remain unsettled as investors try to gauge the prospects for U.S. growth and price rises from data points such as payroll figures due this Friday, said Mary Nicola, a fund manager at PineBridge Investments.
Ms. Nicola said a key question for investors was how this would affect Federal Reserve policy, including the time frame in which the central bank might begin tapering, or reducing its asset purchases. She added that her firm was overweight European and Japanese stocks—holding more of these shares than the benchmarks it tracks—given it believed both markets were attractively valued and stood to benefit from a world-wide economic recovery.
A Call to Protect People and Nature! Thread to watch/read:
The biggest factor to inflation is not the printing of USD it’s the cost of shipping! Costs are rising at a pace of madness doubling since the beginning of the year and increasing by $1,000 a week from Shanghai to Los Angeles! Retailers and Consumers beware!
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