Stock market today: World shares mixed after China economic data weaker than expected

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 99%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

European shares were trading mostly higher after a mixed session in Asia following the release of data showing China's economy is weaker than expected, with domestic demand failing to bounce back as much as hoped for after the pandemic.

Benchmarks rose in Paris, London and Tokyo but fell in Shanghai and Sydney. U.S. futures edged lower and oil prices logged moderate gains.On Tuesday, the government will report how much sales at retailers across the U.S. grew last month.

"Today's activity data suggest China is mired in an extended soft patch," said Stephen Innes of SPI Asset Management in a report. The Hang Seng in Hong Kong edged less than 0.1% higher, to 19,978.25, while the Shanghai Composite index lost 0.6% to 3,290.99. So far, a resilient job market has helped U.S. households keep up their spending despite all the pressures. That in turn has offered a powerful pillar to prop up the economy.

Looming ahead is the risk of the federal government's first-ever default if Congress doesn't raise the credit limit set for federal borrowing.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: World markets mostly higher; Turkiye, Thailand slip after electionsWorld shares were mostly higher Monday after a weak start in Asia, while benchmarks fell in Turkiye and Thailand following weekend election upsets for their ruling parties.
Source: CTVCalgary - 🏆 26. / 68 Read more »