Global markets up … Waiting to hear from the Fed chair … World leaders head to G7
BEIJING (AP) – Global stock markets rose today after Wall Street declined ahead of a closely watched speech by the U.S. Federal Reserve chairman. In early trading, London’s FTSE 100 rose 0.7%, Frankfurt’s Dax climbed 0.5% and France’s CAC-40 gained 0.4%. In Asia, Tokyo’s Nikkei closed 0.4 % higher. The Shanghai Composite Index rose 0.5% and Hong Kong’s Hang Seng climbed 0.5%. Wall Street is expected to open higher today with S&P futures up 0.4% and Dow futures up 0.3%.
UNDATED (AP) – Investors are looking to Fed chairman Jerome Powell’s speech today for signs of direction on interest rates after two regional Fed presidents said they see no need for a change. Investors expect a cut in September, the Fed’s second in three months, to shore up U.S. economic growth amid a tariff war with Beijing and weakening global growth. Jeffrey Halley of Oanda says in a report, “Markets seem very clearly positioned for some very dovish guidance from Mr. Powell.” He says, “It is a dangerous assumption to make.”
BIARRITZ, France (AP) – For the 45th year in a row, seven of the most powerful people in the world will get together this weekend for an informal but influential summit that has weathered everything from the Cold War through the global financial crisis to U.S. President Donald Trump’s Twitter feed. Despite its ups and downs the Group of Seven remains a key forum for tackling problems that cross borders and that national governments can’t entirely solve on their own.
SEATTLE (AP) – Prosecutors say a transgender woman accused of hacking Capital One and at least 30 other organizations is a flight risk, a threat and should be kept locked up until her trial. Prosecutors are expected to make their argument for detaining Paige Thompson at a hearing today in Seattle. Thompson’s lawyers say she should be released to a halfway house where she would have access to mental health care. Citing a doctor, they say her safety is at risk in the male facility.
NEW YORK (AP) – Hasbro is going whole hog on Peppa Pig. The maker of Monopoly and GI Joe will pay about $4 billion to buy Entertainment One Ltd., a British entertainment company that produces “Peppa Pig,” “PJ Masks” and other animated shows for preschoolers. “Peppa Pig,” which stars a pink cartoon pig with a British accent, airs worldwide and is translated into over 40 languages.