Get breaking news alerts via email

Click here to manage your alerts
World markets struggle as lift from Fed fades
Stocks » Lackluster trading in Japan, Australia reflects caution heading into summer.
First Published Jun 20 2014 08:43 am • Last Updated Jun 20 2014 08:43 am

Hong Kong • World stock markets struggled Friday as the euphoria faded from the Fed’s promises of prolonged low rates to boost growth.

Markets were subdued in lackluster trading, with Japanese and Australian benchmarks moving lower after big gains the previous day.

Join the Discussion
Post a Comment

The fluctuations reflect investors’ cautious mood heading into summer plus lingering concern over the possible widening of the turmoil in Iraq and uncertainty about the U.S. economy’s resilience.

Markets got an earlier boost from Federal Reserve Chair Janet Yellen’s pledge this week that short-term rates would not rise from record lows anytime soon.

"Both U.S. and Asian markets have been much more subdued after the FOMC meeting and it seems that once the dust settles the big moves in a number of assets were predominantly based on position re-adjustment than anything else," said Chris Weston of IG Markets in Melbourne.

In early European trading, France’s CAC 40 edged up 0.1 percent to 4,568.23 while Germany’s DAX added 0.3 percent to 10,034.56. The FTSE 100 index of leading British companies gained 0.3 percent to 6,829.91.

U.S. stocks were poised for a flat opening, with Dow futures up 0.1 percent to 16,843.00 and broader S&P 500 futures up 0.1 percent to 1,951.40.

Japan’s benchmark Nikkei 225 dipped 0.1 percent to close at 15,349.42 while Australia’s S&P/ASX 200 tumbled 0.9 percent to 5,419.50. Both had jumped 1.6 percent in Thursday’s session.

South Korea’s Kospi lost 1.2 percent to 1,968.07 while Hong Kong’s Hang Seng edged 0.1 percent higher to 23,194.06 and the Shanghai Composite Index in mainland China added 0.1 percent to 2,026.67.

In energy trading, the price of U.S. benchmark crude for August delivery rose 2 cents to $106.07 per barrel in electronic trading on the New York Mercantile Exchange.

story continues below
story continues below

In currencies, the dollar rose to 102.03 Japanese yen from 101.93 in late trading Thursday. The euro slipped to $1.3602 from $1.3612.

Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Top Reader Comments Read All Comments Post a Comment
Click here to read all comments   Click here to post a comment

About Reader Comments

Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
Staying Connected
Contests and Promotions
  • Search Obituaries
  • Place an Obituary

  • Search Cars
  • Search Homes
  • Search Jobs
  • Search Marketplace
  • Search Legal Notices

  • Other Services
  • Advertise With Us
  • Subscribe to the Newspaper
  • Access your e-Edition
  • Frequently Asked Questions
  • Contact a newsroom staff member
  • Access the Trib Archives
  • Privacy Policy
  • Missing your paper? Need to place your paper on vacation hold? For this and any other subscription related needs, click here or call 801.204.6100.