European stocks fall, Asian stocks rise Boston 25 News

BEIJING – (AP) European stock markets opened lower on Wednesday, as Asia moved forward as investors waited for an update from the Federal Reserve on possible plans to ease US stimulus measures.

Wall Street futures also fell a day after the benchmark S&P 500 index fell from a record high following weaker-than-expected US retail sales.

Investors have waited minutes for the Fed’s policy committee meeting in July for an update on when the US central bank might cut purchases of bonds that pump money into the financial system and look to raise interest rates.

Citing strong hiring growth and rising inflation, some Fed officials say policy normalization should begin soon. Others argue that the Fed needs to see stronger economic data to ensure a recovery.

Overall, there don’t seem to be any positive catalysts to boost sentiment, IG’s Yeap Jun Rong said in a report. So market sentiment may be largely on hold, with the next Fed minutes coming up next.

In early trading, London’s FTSE 100 fell 0.3% to 7,160.40. The German DAX lost 0.3% to 15,877.98 and the Paris CAC 40 lost 0.4% to 6,791.63.

On Wall Street, the future for the S&P 500 was less than 0.1%, while the Dow Jones Industrial Average lost 0.2%.

On Tuesday, the S&P 500 fell 0.7% while the Dow fell 0.8%. The Nasdaq composite lost 0.9%.

In Asia, the Shanghai Composite Index rose 1.1% to 3,487.44 and the Nikkei 225 in Tokyo by 0.6% to 27,671.57. Hong Kong’s Hang Seng was 0.5% higher at 26,025.14.

South Korea’s Kospi rose 0.5% to 3,175.88 and Sydney’s S&P 500 fell 0.1% to 7,532.90.

The Indian Sensex lost 0.3% to 56,118.57. The markets in New Zealand and Southeast Asia improved.

On Wall Street, technology and consumer-oriented stocks fell on Tuesday as concerns about the virus’ impact on the economy mounted. Healthcare stocks rose.

The sale kicked off after the Commerce Department said U.S. retail sales fell at a seasonally adjusted rate of 1.1% in July, ahead of expectations. That followed a poor customer sentiment survey Friday.

Major indices traded at record highs thanks to a mix of investor confidence and friendly monetary policy from the Federal Reserve. Analysts still expect economic growth, but sentiment is becoming more cautious about the pace.

In the energy markets, the US benchmark crude gained 24 cents to $66.83 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 70 cents to $66.59 on Tuesday. Brent oil, the price base for international oils, rose 31 cents in London to $69.34 a barrel. It fell 48 cents to $69.03 a barrel in the previous session.

The dollar had changed little at 109.59 yen. The euro rose to $1.1723 from $1.1711.

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