Today’s Stock Exchanges, April 12th. Uncertain price lists awaiting American inflation. Fed discussions on rates
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Stock markets are uncertain on a day marked by US inflation data and the publication of the minutes of the last Fed meeting. Wall Street futures are weak and government bond yields go up after John Williams, Fed chairman of New York, said he was open to another quarter-point hike in May, adding that the decision would depend on incoming data, but the debate inside the Fed was open and Austan Goolsbee, chairman of the Chicago Fed, asked “prudence and patience” in the definition of monetary policy, for fear of a credit crunch due to the recent banking turmoil.
European stock exchanges towards a stable start
A stable start is expected for the European stock markets, following a positive start to the week yesterday and awaiting the key data on US inflation in March which could determine the next moves by the Fed. The general perception is that the Federal Reserve is close to end of its aggressive rate-hiking cycle, but there could still be room for another hike in May at its next meeting. The Eurostoxx 50 is down 0.09%, Frankfurt’s Dax futures are up 0.1%, while those on Paris’ Cac 40 and London’s FTSE 100 are flat.
Asian stock exchanges in no particular order
Asian stocks continue in random order, in a climate of caution in view of the key data on US inflation that will be released during the day. There is also anticipation for the minutes of the last Fed meeting, arriving in the evening. In Hong Kong, the Hang Seng index dropped 0.68% due to the heavy losses of Tencent (-4%), which dragged down other technology stocks, with the majors Alibaba Group Holding Ltd and Baidu Inc losing the 2% each. The Shanghai Composite Index gains 0.42%, while the Shenzhen Composite Index of China’s second largest stock exchange is up 0.36%. Seoul’s Kospi reverses course and rises by 0.10%. In Tokyo, the Nikkei index rose by 0.59%, driven by the optimism aroused by the statements of billionaire Warren Buffett who spoke of new investments in the country.
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