Stock Markets Mixed Awaiting Key US Rate Decision

New York, June 9 (UrduPoint / Pakistan Point News - 10th Jun, 2023 ) :Stock markets diverged on Friday as investors awaited next week's crucial interest rate decisions from the US Federal Reserve and other central banks.

Wall Street stocks finished out a quiet week with modest gains, adding to the weekly advance.

Expectations that the Fed will hold off raising interest rates next week for the first time since starting its hiking cycle last year to combat high inflation have pushed equities higher for most of the month.

"The question on everyone's mind is, will this good fortune for the stock market continue?" said Briefing.com analyst Patrick O'Hare.

"The answer is unknowable today since it rests in what the future brings the market in terms of economic data, earnings growth, interest rate movements, and policy action," he added.

Asian indices closed higher but Europe's major stock markets dipped a day after data showed that the eurozone was in recession at the start of the year.

- Key figures around 2030 GMT - New York - Dow: UP less 0.1 percent at 33,876.78 (close) New York - S&P 500: UP 0.1 percent at 4,298.86 (close) New York - Nasdaq: UP 0.2 percent at 13,259.14 (close) London - FTSE 100: DOWN 0.5 percent at 7,562.36 (close) Frankfurt - DAX: DOWN 0.3 percent at 15,949.84 (close) Paris - CAC 40: DOWN 0.1 percent at 7,213.14 (close) EURO STOXX 50: DOWN 0.2 percent at 4,289.79 (close) Tokyo - Nikkei 225: UP 2.0 percent at 32,265.17 (close) Hong Kong - Hang Seng Index: UP 0.5 percent at 19,389.95 (close) Shanghai - Composite: UP 0.6 percent at 3,231.41 (close) Euro/dollar: DOWN at $1.0749 from $1.0782 on Thursday Pound/dollar: UP at $1.2578 from $1.2560 Dollar/yen: UP at 139.41 Yen from 138.92 yen Euro/pound: DOWN at 85.44 percent from 85.84 penceBrent North Sea crude: DOWN 1.5 percent at $74.79 per barrelWest Texas Intermediate: DOWN 1.6 percent at $70.17 per barrel