World Shares Mostly Higher Ahead Of U.S. Holiday

Global equities are mainly higher, while US futures are lower ahead of the 4th of July holiday in the United States. London, Paris, Frankfurt, and Tokyo benchmarks gained, while Hong Kong and Seoul declined, Elaine Kurtenbach reported for the Associated Press (AP).

Photo Insert: The Mexico Stock Exchange

Last week was Wall Street's fourth losing week in five, as investors worry about soaring inflation and the likelihood of increased interest rates triggering a recession.

A "Goldilocks outcome," according to Mizuho Bank, would result in a slowdown large enough to reduce inflation, which is at its highest level in four decades, but not so powerful as to result in a "hard landing."

The S&P 500 gained 1.1 percent on Friday, recovering from early losses to settle at 3,825.33. The rise ended the benchmark index's four-day loss skid, but it still produced its fourth losing week in the last five.

The Dow Jones Industrial Average gained 1% to 31,097.26, while the Nasdaq gained 0.9 percent to 11,127.85.

On Monday, the Nikkei 225 index in Tokyo increased 0.8 percent to 26,153.81. KDDI Corp., a Japanese telecommunications company, saw its stock drop 1.7 percent. They plummeted as much as 4% earlier Monday as the business dealt with problems that began early Saturday and affected almost 40 million consumers.

The Shanghai Composite index rose 0.5% to 3,405.43. The S&P/ASX 200 index in Australia rose 1.1 percent to 6,612.60.

The Hang Seng index in Hong Kong fell 0.1 percent to 21,830.35, while the Kospi in Seoul fell 0.2 percent to 2,300.34. The Sensex in India rose 0.3 percent, while shares in Bangkok and Taiwan declined.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic