U.S. stock futures were flat early Friday morning after the S&P 500 hit a new high during regular trading, despite hotter-than-expected inflation data.
Futures tied to the Dow Jones Industrial Average and the S&P 500 were close to flat. Nasdaq-100 futures also rose marginally.
· Asia extends global stocks rally, U.S. bond yields fall on easing inflation fears
U.S. bond yields fell to three month lows and a broad gauge of Asian shares rose on Friday as investors saw enough one-off factors in U.S. consumer price data to back the Federal Reserve's conviction that rising inflation will be transitory.
Some economists say the rise in CPI reflected short-term adjustments related to a reopening economy, and many investors appear to be confident that the Fed is deftly handling a rebound in economic growth - even as questions remain about how it defines "transitory".
· Japanese shares end lower as cyclical stocks drag; Toshiba slips
Japanese shares ended marginally lower on Friday as losses in cyclical stocks, as well as banks and property firms, offset gains in heavyweight technical firms.
The Nikkei share average closed 0.03% down at 28,948.73, while the broader Topix slipped 0.14% to 1,954.02. For the week, the Nikkei traded in a narrow range, posting a marginal gain of 0.02%.
Toshiba Corp shed 1.59% after an explosive investigation released on Thursday found the company and the government colluded to lean on foreign investors to fall in line with management’s wishes.
· China stocks end lower as liquor, financial stocks weigh; post weekly loss again
China stocks ended lower on Friday, dragged down by liquor and financial firms, and posted a second straight weekly loss, while data showed the country’s broader credit growth slowed in May.
The blue-chip CSI300 index fell 0.9% to 5,224.70, while the Shanghai Composite Index shed 0.6% to 3,589.75.
The CSI300 liquor index slumped 3.3% on persistent worries over lofty valuations, while the CSI300 financials index slid 1.1%.
· India’s BSE Sensex touches record high in mixed Asia-Pacific trading day
Shares in Asia-Pacific were mixed in Friday trade, with the BSE Sensex in India touching a record high.
In Friday trade, the Sensex rose to 52,641.53 — above its previous record high of 52,516.76 set in February, according to data from Refinitiv Eikon. The index later pared some of those gains and last stood 0.33% higher, as of 1:05 p.m. local time. The Nifty 50 in India also gained 0.3%.
Shares in Australia finished the trading day higher as the S&P/ASX 200 climbed 0.13% to 7,312.30.
MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.36%.
· European stocks inch higher as global markets assess inflation spikes
European markets were fractionally higher on Friday as global markets shrug off a sharp rise in U.S. inflation, with many strategists believing it to be transitory.
The pan-European Stoxx 600 added 0.3% in early trade, with basic resources climbing 1.4% while banks fell 0.6%.
· Mining, healthcare stocks boost FTSE 100 as economy strengthens
FTSE 100 up 0.3%, FTSE 250 rises 0.3%
Reference: Reuters, CNBC
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