Global Stock Market Mixed Amid Ongoing US-Iran Tensions and Upcoming Inflation Data
The global stock market is mixed as investors wait for key US inflation data to be released. The S&P 500 futures rose by 0.2% while Dow Jones Industrial Average futures remained nearly unchanged.
In Europe, Germany's DAX index gained 0.3% but the CAC 40 in Paris fell 0.2%. Britain's FTSE 100 edged down 0.1%.
In Asia, Tokyo's Nikkei 225 rose by 0.8%, South Korea's Kospi surged by 3.7% due to renewed buying of computer chipmakers, and Taiwan's Taiex advanced by 0.9%. However, the Shanghai Composite index added just 0.3% while Hong Kong's Hang Seng slipped 0.8%.
The price of Brent crude oil increased by 1% to $89.79 per barrel as concerns persist over the Iran-US conflict and its impact on global shipping routes. Ben May, director of global macro research at Oxford Economics, forecast that Brent crude will average $85 a barrel for the rest of this year before gradually falling to about $65 a barrel by late 2027.