U.S. futures rose and oil prices also were higher.
The Shanghai Composite index declined 0.3% to 3,114.38, while in Australia, the S&P/ASX 200 advanced 0.6% to 7,195.10. That’s discouraging for shoppers paying higher prices, but much of the acceleration was because of higher fuel costs. Underlying inflation trends indicated a continued moderation in price increases, economists said. Inflation has been generally cooling since peaking above 9% last year.
American Airlines cut its forecast for profits during the summer because fuel costs are running higher than it expected. It also had to pay about $230 million in retroactive pay to pilots after they ratified a new labor contract. Its stock fell 5.7%.
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