Global stock markets rose Monday as investors looked ahead to a U.S. Federal Reserve meeting and U.S. President Donald Trump’s speech at the United Nations.
KEEPING SCORE: Germany’s DAX rose 0.6 percent to 12,592.21 and France’s CAC 40 gained 0. 4 percent to 5,234.68. London’s FTSE 100 added 0.3 percent to 7,238.37. On Friday, the DAX and the CAC 40 both lost 0.2 percent. On Wall Street, the future for the Dow Jones industrial average gained 0.3 percent and that for the Standard & Poor’s 500 index was up 0.2 percent.
ASIA’S DAY: The Shanghai Composite Index gained 0.3 percent to 3,362.86 and Hong Kong’s Hang Seng added 1.3 percent to 28,159.77. Japanese markets were closed for a holiday. Seoul’s Kospi advanced 1.3 percent to 2,418.21 and Sydney’s S&P-ASX 200 added 0.4 percent to 5,720.60. India’s Sensex gained 0.6 percent to 32,472.62. Benchmarks in Taiwan, Singapore and Bangkok rose while New Zealand and Taiwan declined.
WALL STREET: U.S. stocks rose Friday, turning in one of their best weeks this year, as technology companies and banks gained. The Standard & Poor’s 500 index closed above 2,500 for the first time. The S&P gained 0.2 percent to a record 2,500.23. The Dow Jones industrial average rose 0.3 percent to 22,268.34, its fourth record close in a row. The Nasdaq composite added 0.3 percent to 6,448.47.
FED WATCH: Investors looked ahead to this week’s Fed policy meeting for indications on the timing of the next rate hike and when the Fed might start shrinking its multitrillion-dollar stockpile of bonds. Forecasters expect the Fed to leave rates unchanged and stick to plans to raise rates in December. Investors also are looking for indications of when and how central bankers will start selling off bonds bought to shore up economic growth after the 2008 crisis.
NORTH KOREA: Markets are watching Trump’s U.N. speech Tuesday for any mention of military options on North Korea following its latest missile launch. The Security Council criticized Friday’s launch over Japan as “highly provocative.” Washington’s ambassador to the United Nations, Nikki Haley, said Sunday that North Korea will be destroyed if it continues with reckless behavior.
ANALYST’S TAKE: “On the political front, no prizes for guessing that North Korea will top the agenda of President Trump’s address to the gathering of world leaders at the U.N.,” Rob Carnell of ING said in a report. “The political heat will also rise in Germany and New Zealand ahead of weekend elections. There…