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Stocks Rose on Wall St. After Late Rebound Spreads to Global Markets Stocks Wobble on Wall St. as a Bumpy Week Nears Its End
(about 1 hour later)
HONG KONG — Stocks on Wall Street rose on Friday after a late rally the day before that largely carried over to markets around the world. HONG KONG — Stocks on Wall Street were up and down on Friday after a late rally the day before that largely carried over to markets around the world.
Shares rose in Asia and Europe despite new causes for concern about the pace of global economic growth.Shares rose in Asia and Europe despite new causes for concern about the pace of global economic growth.
European markets started the day around 1 percent higher, climbed through the morning and remained up across the board by midafternoon. Asian markets closed higher for the most part, with Japan’s Nikkei 225 index a notable exception.European markets started the day around 1 percent higher, climbed through the morning and remained up across the board by midafternoon. Asian markets closed higher for the most part, with Japan’s Nikkei 225 index a notable exception.
Investors in Asia did not initially latch on to Wall Street’s positive momentum. Stocks in Japan fell after officials there released soft economic data for the month of November. In particular, they focused on a drop in industrial output that economists blamed partly on weaker demand from China, a major buyer of Japanese machinery used in factories. Investors in Asia did not initially latch on to Wall Street’s positive momentum from Thursday. Stocks in Japan fell after officials there released soft economic data for the month of November. In particular, they focused on a drop in industrial output that economists blamed partly on weaker demand from China, a major buyer of Japanese machinery used in factories.
The report came after the release on Thursday of data showing that Chinese industrial profits fell last month for the first time in three years.The report came after the release on Thursday of data showing that Chinese industrial profits fell last month for the first time in three years.
The Nikkei 225 fell 0.3 percent. In Hong Kong, the Hang Seng rose 0.1 percent. The Shanghai composite index rose 0.4 percent. Stocks in Taiwan and South Korea rose as well.The Nikkei 225 fell 0.3 percent. In Hong Kong, the Hang Seng rose 0.1 percent. The Shanghai composite index rose 0.4 percent. Stocks in Taiwan and South Korea rose as well.
By midafternoon in Europe, the Euro Stoxx 50 blue-chip index was up by about 1.9 percent, the FTSE 100 in London rose 2.3 percent and the CAC 40 in Paris was up 2 percent. The Dax in Germany was about 1.7 percent higher.By midafternoon in Europe, the Euro Stoxx 50 blue-chip index was up by about 1.9 percent, the FTSE 100 in London rose 2.3 percent and the CAC 40 in Paris was up 2 percent. The Dax in Germany was about 1.7 percent higher.
Trading has been febrile in recent weeks, particularly in the United States, as investors grapple with a slowing of global growth, corporate profits being squeezed by interest rate rises, a trade war with China and turmoil in the White House.Trading has been febrile in recent weeks, particularly in the United States, as investors grapple with a slowing of global growth, corporate profits being squeezed by interest rate rises, a trade war with China and turmoil in the White House.
The S&P 500 recorded its best day since 2009 on Wednesday, before dropping as much as 2.8 percent on Thursday and then rallying to finish the day 0.9 percent higher.The S&P 500 recorded its best day since 2009 on Wednesday, before dropping as much as 2.8 percent on Thursday and then rallying to finish the day 0.9 percent higher.
A partial government shutdown has complicated matters by potentially depriving investors of important Commerce Department data. A report on new home sales has been delayed because of the shutdown. And while weekly jobless claims were lower, expectations for job growth have hit a five-month low.A partial government shutdown has complicated matters by potentially depriving investors of important Commerce Department data. A report on new home sales has been delayed because of the shutdown. And while weekly jobless claims were lower, expectations for job growth have hit a five-month low.