Equities mostly open lower, but technology companies rise higher

Shares mostly start lower on Wall Street on Friday, although progress for some large technology companies is …

Shares mostly start lower on Wall Street on Friday, although gains for some large technology companies send the Nasdaq slightly higher. The S&P 500 fell less than 0.1%, a day after setting another record higher. Nasdaq, which also set a record a day earlier, rose 0.4 percent. Moderna rose 8.8% and Pfizer added 2% after the Food and Drug Administration opened up coronavirus booster shots from the two companies to all adults. TurboTax maker Intuit jumped more than 10% after reporting results that easily beat analysts’ estimates. Crude oil prices fell.

THIS IS A BREAKING NEWS UPDATE. The AP’s past history follows below.

BEIJING (AP) – Global equities were mostly higher on Friday after Wall Street broke records and the Japanese government approved a record-breaking stimulus package worth nearly half a billion dollars.

London, Frankfurt, Shanghai and Tokyo went on. Hong Kong said no.

Investors are shifting their focus from corporate earnings to the long-term outlook for global economies, and whether central banks may feel pressured to cool rising prices by rolling stimulus back faster than planned.

Inflation is “currently the main focus area for markets,” said Fawad Razaqzada of ThinkMarkets in a report.

Japan’s consumer inflation in October fell to 0.1% from a year earlier from the previous month’s 0.2%, the government reported.

The country is struggling to raise prices, unlike most economies, after decades of stagnant growth as the population shrinks and grows older.

Japanese Prime Minister Fumio Kishida’s cabinet on Friday approved a $ 56 trillion yen ($ 490 billion) government spending package aimed at stimulating the growth of the world’s third largest economy.

In early European trading, the FTSE rose 0.4% to 7,281.94, and the Frankfurt Dax opened 0.2% lower at 16,249.16. The CAC 40 in Paris rose 0.5% to 7,178.31.

Futures for the S&P 500 Index and the Dow Jones Industrial Average rose 0.3 percent.

On Thursday, the S&P rose 0.3%, while the Dow lost 0.2%. The Nasdaq composite rose 0.5 percent.

In Asia, the Shanghai Composite Index rose 1.1% to 3,560.37, and the Nikkei 225 in Tokyo rose 0.5% to 29,745.87. Hang Seng in Hong Kong fell 1.1% to 25,049.97.

Kospi in Seoul rose 0.8% to 2,971.02 and Sydney’s S & P-ASX 200 added 0.2% to 7,396.50.

Indian markets were closed due to a holiday. New Zealand, Singapore and Bangkok fell while Jakarta won.

On Wall Street, two-thirds of companies fell in the S&P 500 on Thursday. Gains from large technology companies and retailers offset losses in other sectors, as investors have upgraded recent companies’ earnings.

US equities have risen since early October, as companies reported stronger-than-expected profits.

Companies in the S&P 500 have reported total earnings growth of 39%. It surpasses previous forecasts in June for a 23% growth for the quarter.

Companies face higher costs for raw materials and supply chain problems. Consumers have so far absorbed price increases, but analysts fear they could eventually curb spending if the increases continue.

In the energy markets, benchmark US crude rose 35 cents to $ 78.76 per barrel. barrel of electronic trading on the New York Mercantile Exchange. Brent crude oil, used as the price base for international oils, rose 30 cents to $ 81.54 per barrel. barrel in London.

The dollar fell to 114.12 yen from Thursday’s 114.27 yen. The euro retreated to $ 1.1291 from $ 1.1370.

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