Yahoo Finance Global stocks rise after days of turbulent trading
Global stock markets are higher and crude oil prices are steady after days of turbulent trading
Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Nov. 16, 2017. Asian stock markets were mostly firm on Thursday and oil prices were steady, despite a second straight day of losses on Wall Street overnight. (AP Photo/Ahn Young-joon)
SEOUL, South Korea (AP) -- Global stocks rose Thursday, but analysts said it was too early to say markets had stabilized after a week of turbulent trading. Apart from persisting worries over prospects for a U.S. tax overhaul and doubts over the pace of rate hikes by the Federal Reserve, market-moving news was scarce.
KEEPING SCORE: Britain's FTSE 100 was up 0.1 percent at 7,383 and France's CAC 40 rose 0.7 percent to 5,335, while Germany's DAX gained 0.5 percent to 13,040. Futures augured modest gains on Wall Street. S&P and Dow futures both added 0.3 percent.
ASIA'S DAY: Japan led the region higher with its benchmark Nikkei 225 jumping 1.5 percent to close at 22,351.12 and snapping a six-session losing streak. South Korea's Kospi advanced 0.7 percent to 2,534.79. Hong Kong's Hang Seng index gained 0.6 percent to 29,018.76. Australia's S&P/ASX 200 added 0.2 percent to 5,943.50, while China's Shanghai Composite Index slipped 0.1 percent to 3,399.25.
ANALYST'S VIEW: While the Federal Reserve's rate hike in December is "a done deal," Rob Carnell, head of research for Asia at ING bank, said that the latest share price declines and lower commodity prices "raise worries about growth and the pace of tightening in 2018."
FED WATCH: Analysts said strong U.S. retail sales data and consumer prices released Wednesday gave a green light to the Fed to raise rates next month. U.S. retail sales rose 0.2 percent in October, a healthy rate, and consumer prices rose 0.1 percent last month.
OIL: Benchmark U.S. crude was down 8 cents at $55.25 per barrel in electronic trading on the New York Mercantile Exchange. It fell 37 cents on Wednesday. Brent crude, used to price international oils, shed 19 cents to $61.68 per barrel in London, having lost 34 cents on Wednesday.
CURRENCIES: The dollar rose to 113.18 yen from 112.84 yen while the euro sank to $1.1764 from $1.1790.
