New York (AFP) – The Dow climbed to a fresh record Monday on a mixed day for global equities as markets awaited an influential US inflation report.
Tuesday’s consumer price index will be closely scrutinized by the Federal Reserve, which has welcomed a moderation in price increases that allowed it to shift away from aggressive interest rate hikes.
Analysts have penciled in a CPI increase of 0.2 percent, holding steady from the prior month.
“Indices will be waiting patiently for tomorrow’s US inflation data, with market predictions of a sharp…decline in the headline (January) CPI figure providing a potential tailwind for equities,” noted Joshua Mahony, chief market analyst at trading group Scope Markets.
But Steve Sosnick of Interactive Brokers said Monday’s mixed session reflected “some nervousness” about a surprise uptick in inflation, which would “put rate cut expectations on hold.”
The Dow rose 0.3 percent to finish at a record, while both the S&P 500 and Nasdaq edged lower.
In Europe, eurozone stocks pushed higher while London was flat ahead of UK inflation, GDP, retail sales and employment data to be released later this week.
Sydney, Bangkok, Mumbai and Wellington ended lower Monday — while Jakarta and Manila edged higher.
Tokyo, Hong Kong, Shanghai, Taipei, Seoul, Singapore and Kuala Lumpur were closed for the regional holiday season.
Oil prices were mixed before key market updates from the Organization of Petroleum Exporting Countries and International Energy Agency.
“This week sees both OPEC and the IEA release their latest monthly reports, with markets keeping a close eye out for any updated supply and demand forecasts,” said analyst Mahony.
The IEA energy watchdog last month forecast world oil supplies to rise further this year, as sliding demand growth amid China’s economic weakness offsets fears of a wider conflict in the crude-rich Middle East.
Besides inflation data, this week’s US calendar includes retail sales data for January, as well as earnings from Coca-Cola and Marriott International.
– Key figures around 2125 GMT –
New York – Dow: UP 0.3 percent at 38,797.38 (close)
New York – S&P 500: DOWN 0.1 percent at 5,021.84 (close)
New York – Nasdaq Composite: DOWN 0.3 percent at 15,942.55 (close)
London – FTSE 100: FLAT at 7,573.69 (close)
Paris – CAC 40: UP 0.6 percent at 7,669.80 (close)
Frankfurt – DAX: UP 0.7 percent at 17,037.35 (close)
EURO STOXX 50: UP 0.7 percent at 4,746.35 (close)
Tokyo – Nikkei 225: Closed for holiday
Hong Kong – Hang Seng Index: Closed for holiday
Shanghai – Composite: Closed for holiday
Euro/dollar: DOWN at $1.0776 from $1.0784 on Friday
Dollar/yen: UP at 149.33 yen from 149.29 yen
Pound/dollar: UP at $1.2630 from $1.2628
Euro/pound: DOWN at 85.29 pence from 85.39 pence
West Texas Intermediate: UP 0.1 percent at $76.92 per barrel
Brent North Sea Crude: DOWN 0.2 percent at $82.00 per barrel
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