Markets mostly higher … Consumer prices … Crude declines
TOKYO (AP) – Global shares were mostly higher today as investors awaited the release of U.S. inflation data. Trading was winding down in China ahead of the Lunar New Year holidays. U.S. shares were set for gains with Dow futures up 0.6 percent at 24,775 and S&P 500 futures 0.5 percent higher at 2,674.70.
WASHINGTON (AP) – Market players are awaiting the U.S. Labor Department’s monthly report on consumer prices, due later this morning. The report takes on added importance since recent swings in financial markets were touched off by worries that inflation might rise too quickly, prompting the Federal Reserve to accelerate monetary tightening.
NEW YORK (AP) – Benchmark U.S. crude lost 20 cents to $58.99 a barrel in electronic trading on the New York Mercantile Exchange. It fell 10 cents to $59.19 a barrel in New York Tuesday. Brent crude, used to price international oils, fell 31 cents to $62.40 a barrel in London. The dollar fell to 107.31 yen from 107.55 yen.
BEIJING (AP) – China has appealed to President Donald Trump to settle trade disputes over steel and aluminum through negotiation after Trump said he would soon decide whether to impose tariffs or quotas. A foreign ministry spokesman asked Trump to avoid possible disruption to trade and the global economic recovery.
FRANKFURT, Germany (AP) – European finance officials are underlining their skepticism toward digital currencies like bitcoin, saying they are risky for investors and inefficient as a way to pay for things. A top monetary official, Jens Weidmann, said in a speech in Germany that digital currencies such as bitcoin are not good means of payment because their values fluctuate so rapidly.