World markets today: US stocks mixed, crypto shares up on Bitcoin ETF approval
US stocks were mixed on Thursday after the inflation data was released, while crypto stocks surged on approval for spot Bitcoin ETFs.
At 9:47 a.m. ET, the Dow Jones Industrial Average was down 27.71 points, or 0.07 per cent, at 37,668.02, the S&P 500 was up 1.99 points, or 0.04 per cent, at 4,785.44, and the Nasdaq Composite was up 30.36 points, or 0.20 per cent, at 15,000.01.
A Labor Department report showed consumer prices increased more than expected in December. The CPI reading for December was reported at 3.4 per cent year-on-year, up from 3.1 per cent the previous month. The core inflation rate stood at 3.9 per cent, down from 4.0 per cent.
Crypto stocks like Coinbase Bitfarms and Riot Platforms advanced between 5 per cent and 11 per cent.
Bitcoin soared to nearly $49,000 after the US Securities and Exchange Commission gave the approval for the cryptocurrency’s exchange-traded funds.
The SEC approved the plans of 11 ETFs to list on leading exchanges including the New York Stock Exchange.
On Wednesday, US stocks closed higher on megacaps rally. The Dow Jones Industrial Average rose 170.57 points, or 0.45 per cent, to 37,695.73. The S&P 500 gained 26.95 points, or 0.57 per cent, at 4,783.45 and the Nasdaq Composite advanced 111.94 points, or 0.75 per cent, to 14,969.65.
The yield on the 10-year Treasury rose to 4.03 per cent from 3.98 per cent shortly before the inflation report’s release.
European equities rose, led by a rise in automobile and technology stocks.
The pan-European STOXX 600 was up 0.5 per cent by 0921 GMT.
Britain’s FTSE 100 edged down 0.1 per cent at 7,645.04 points. France’s CAC 40 rose 0.4 per cent at 7,454.72. Germany’s DAX added 0.2 per cent at 16,716.16.
Oil prices rose on Thursday after Iran seized an oil tanker off the coast of Oman, raising the prospect of escalating conflict in the Middle East.
Brent crude futures were up $1.60, or 2.1 per cent, to $78.40 a barrel at 1413 GMT and US West Texas Intermediate crude futures were up $1.70, or 2.4 per cent, to $73.07.
Gold prices pared gains on Thursday. Spot gold was up 0.1 per cent at $2,024.99 per ounce, as of 9:08 am ET (1408 GMT). US gold futures also rose 0.2 per cent to $2,029.30.
In Asia, Hong Kong’s Hang Seng Index rose 1.3 per cent to 16,302.04. China’s Shanghai Composite added 0.3 per cent at 2,886.65.
Japan’s Nikkei 225 gained 1.8 per cent at 35,049.86.
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Published: 11 Jan 2024, 09:57 PM IST
