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World markets on Monday are mostly declining, but US futures point to higher openings


Elaine Courtenbach

BANGKOK (AP) – Global stock markets on Monday were mostly trading lower as reports of new coronavirus infections in the U.S. and around the world increased, bringing the total to 9 million.

European markets opened lower after a mixed session in Asia, although Wall Street futures rose slightly.

The British FTSE 100 lost 0.4% to 6265, and the CAC 40 in Paris fell 0.7% to 4946. The German DAX fell 0.7% to 12,250 and the payment company Wirecard fell nearly 40% after said about $ 2 billion in missing funds as a result of the accounting scandal probably didn’t exist.

U.S. markets seemed set to grow, with futures on the S&P 500 and Dow up 0.6% and 0.5%, respectively.

Tokyo’s Nikkei 225 index fell 0.2% to 22,437.27, while Hong Kong’s Hang Seng fell 0.5% to 24,515.23. Kospi in South Korea fell 0.7% to 2,126.73.

The Shanghai Composite Index fell 0.1% to 2,965.27, while the Indian Sensex jumped 0.9%. The Sydney S&P / ASX 200 has barely changed at 5,944.50, backed by a report that consumer spending has recovered from a pandemic shock faster than expected, analysts say.

Investors seem wary when prices are already relatively high and “don’t get along” with profit expectations, Mizuho Bank said in a comment. “And so investors may be increasingly nervous about being caught on the wrong side of the ‘irrational riot,'” it said.

In addition, “the very speed and amplitude of the stock market rebound … from the depths of the March sale may also evoke patience rather than haste; prudently pausing to make a profit for the quarter, ”it says.

The World Health Organization on Sunday reported the largest increase in coronavirus cases in one day – by more than 183,000 new cases in the previous 24 hours. The UN Health Agency said on Sunday that Brazil leads with 54,771 cases and the United States with 36,617. India has confirmed 15,400 new cases.

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The United States also reported more than 30,000 new cases of coronavirus on Friday and Saturday, with daily figures highest since May 1. The majority of cases are in the South, West and Midwest, where hospitals in some areas are overloaded.

The number of cases in South Korea and China seemed to be declining after the recent outbreaks that unfolded in their capitals.

There remains great uncertainty as to whether countries that have eased travel and business restrictions in the fight against the pandemic may reintroduce broader controls that will slow recovery after the worst global downturn since the Great Depression in the 1930s.

“The extent to which the COVID-19 pandemic is slowing economic recovery may be increasingly in the spotlight. This shift dynamics is always difficult to compare, ”Stephen Inn of AxiCorp said in a comment.

Even if widespread home orders fail, fears that frightened shoppers may still shy away from stores and businesses may abandon their own costs.

Yields on 10-year Treasury bonds on Monday were stable at 0.70% after rising 0.74% on Friday. It tends to move in line with investors ’expectations regarding the economy and inflation.

A barrel of U.S. oil for July delivery fell 25 cents to $ 39.50 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, it rose 2.3% to $ 39.75. Brent crude, an international standard, fell 18 cents to $ 42.01 a barrel.

In currency trading, the dollar was 106.93 Japanese yen against 106.87 on Friday. The euro rose to $ 1.1213 from $ 1.1178.


Source: AP News

Share price data is provided by IEX Cloud with a 15-minute delay. Chart cost data is provided by TradingView with a 15-minute delay.

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