Stock market today: World shares start June mostly higher following Wall St rally
abcnews.go.comWorld shares have started June mostly higher, though gains in some markets were whittled back later in the day
World shares began June mostly higher after a report showing that inflation in the U.S. is not worsening drove a rally on Wall Street.
In early trading Monday, Germany's DAX advanced 1% to 18,728.00 and the CAC 40 in Paris climbed 0.6% to 8,040.94. Britain's FTSE 100 added 0.4% to 8,313.50.
The future for the S&P 500 was up 0.2% while that for the Dow was virtually unchanged.
India’s Sensex surged 3.2% to 76,304.58 after the country’s 6-week-long national election came to an end with most exit polls projecting that Prime Minister Narendra Modi will extend his decade in power with a third consecutive term.
Hong Kong's Hang Seng jumped 1.8% to 18,403.04, while the Shanghai Composite index fell back in the afternoon, losing 0.3% to 3,078.49.
Tokyo's Nikkei 225 advanced 1.1% to 38,933.36 and the Kospi in Seoul surged 2% to 2,682.52.
Australia's S&P/ASX 200 climbed 0.8% to 7,761.00.
In Taiwan, the Taiex closed 1.8% higher.
On Friday, the S&P 500 rose 0.8% to close its sixth winning month in the last seven. The Dow leaped 1.5% and the Nasdaq slipped less than 0.1%.
Stocks broadly got a boost from easing Treasury yields in the bond market after the latest reading on inflation came in roughly as expected, at 2.7% last month.
That could bolster confidence at the Federal Reserve that inflation is sustainably heading toward its target of 2%, something it says it needs before it will cut its main interest rate.
Friday’s report from the U.S. government also showed growth in consumer spending weakened by more than economists expected. Growth in incomes for Americans also slowed last month.
“Finally, the U.S. economic
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