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Global stock markets edge higher on U.S., European markets

Stock MarketsSep 13, 2021 09:57PM ET
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2/2 © Reuters. FILE PHOTO: A man wearing a protective face mask, following an outbreak of the coronavirus, talks on his mobile phone in front of a screen showing the Nikkei index outside a brokerage in Tokyo, Japan, February 26, 2020. REUTERS/Athit Perawongmetha/File Ph 2/2

By Elizabeth Dilts Marshall

NEW YORK (Reuters) - World stock markets edged higher on Monday as gains on Wall Street and European indexes pushed aside - for now - fears over inflation, regulation and higher corporate taxes.

Investors' focus now shifts to Tuesday's U.S. consumer price data, which will give a broad picture of the country's economic recovery ahead of the Federal Reserve's meeting next week.

MSCI's gauge of stocks across the globe gained 0.05%, and the pan-European STOXX 600 index rose 0.29%.

The S&P 500 closed 0.2% higher, ending a five-day losing streak, with the Dow Jones Industrial Average also ending the day higher, up 0.76%. The NASDAQ slipped less than 0.1%.

The dollar climbed to a two-week peak, and oil prices topped 6-week highs.

"European and U.S. equity markets largely shrugged off rising concerns about regulatory dominance in Chinese tech stocks, as focus turns towards US CPI for August," ANZ Research analysts wrote.

U.S. government bond yields dipped on Monday. The yield on 10-year Treasury notes was down 1.8 basis points at 1.323%.

Asian stocks fell earlier in the day following news of a fresh regulatory crackdown on Chinese firms.

China fired another regulatory shot at its tech giants, telling them to end a long-standing practice of blocking each other's links on their websites. The Financial Times also reported that China is aiming to break up the payments app Alipay.

The Chinese blue-chip index fell 0.5% and MSCI's broadest index of Asia-Pacific shares outside Japan was 0.78% lower. Japan's Nikkei rose 0.22%.

Leading U.S. House of Representatives Democrats said they are seeking to raise the tax rate on corporations to 26.5%, up from the current 21%.

The core reading of the U.S. consumer price index is expected to show a rise of 0.3% in August, down from 0.5% the previous month and 0.9% in June.

The U.S. Federal Reserve is paying close attention to price pressures as it mulls when to begin to reduce its massive bond holdings and how soon to begin lifting rates from near zero. It also remains on the lookout for any signs that price pressures may broaden.

The general air of risk aversion helped lift the dollar index to 92.69, up 0.12%.

Oil prices rose to six-week highs as U.S. output remains slow to return two weeks after Hurricane Ida slammed into the Gulf Coast and worries another storm could affect output in Texas this week.

Brent crude settled up $0.59, or up 0.81%, at $73.51 a barrel. U.S. crude settled up $0.73, or up 1.05%, at $70.45 per barrel.

(Graphic: Global Oil Demand Growth Forecasts, https://graphics.reuters.com/GLOBAL-OIL/lbvgngrzdpq/chart.png)

Global stock markets edge higher on U.S., European markets
 

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Comments (15)
Dave Jones
Dave Jones Sep 14, 2021 12:24AM ET
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hilarious! the title was markets rise on markets! 🤣🤣🤣
Jimmy Joseph
Jimmy Joseph Sep 13, 2021 7:23PM ET
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just revised the title of the article
Ricardo Diogo
Rcd72 Sep 13, 2021 5:05PM ET
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the Fed is working towards total annihilation of the economy.
Dave Jones
Dave Jones Sep 13, 2021 3:23PM ET
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the fed can't stop taper or raise interest rates. its sewn the seeds of its own destruction
Jon Bal
Jon Bal Sep 13, 2021 2:36PM ET
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its just the fed gov's closing all their longs
Darryl Allen
Darryl Allen Sep 13, 2021 1:21PM ET
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Apparently "global stock" = China.
Iyarin Boonnum
Iyarin Boonnum Sep 13, 2021 1:09PM ET
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Time to sell us, euro stock. Taper has much more impact than u expect!!!
Casino Crypt
CasinoCrypt Sep 13, 2021 12:57PM ET
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The German (yoy) WPI is at a level last seen in in 1994. This is colossal and ECB seems to be asleep at the wheel. Stagflation stalks in the shadows as the party continues.
Casino Crypt
CasinoCrypt Sep 13, 2021 12:57PM ET
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sorry I meant 1974 !
Jouni Matero
Jouni Sep 13, 2021 12:52PM ET
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Global stocks slip because curtain is removing and people realize this "growth" was just funny money holding the illusion of growth.
Jimmy Joseph
Jimmy Joseph Sep 13, 2021 12:50PM ET
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global stocks slip, which chart, dow is up 200 points
Kristof Naessens
Kristof Naessens Sep 13, 2021 12:40PM ET
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Strange that some Fed officials sold their stocks at the top.
Ricardo Diogo
Rcd72 Sep 13, 2021 8:04AM ET
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bubble bubble bubble
Josh Davis
Josh Davis Sep 13, 2021 7:00AM ET
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My favorite time was when people said this was transitory….
William Bailey
William Bailey Sep 13, 2021 2:27AM ET
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Hagahaha…30 year high means it has never recovered from1990 crash !! Still underwater from printing free cash
William Bailey
William Bailey Sep 12, 2021 11:27PM ET
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Hahaha. Massive massive money printing that goes to the Japanese markets and it takes 30 years to catch back up using ungodly inflation
Magic Nash
Magic Nash Sep 12, 2021 11:27PM ET
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Ah yes, that ungodly Japanese inflation that is still in the negative for this year. EVERY MONTH.
 
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