HONG KONG (AP) — World shares were mixed on Wednesday after the benchmark S&P 500 closed at another record high following a report that the U.S. economy grew at an unexpectedly strong 4.3% annual rate
in July to September.
The futures for the S&P 500 and the Dow Jones Industrial Average were down less than 0.1%.
Britain’s FTSE 100 was down 0.2% at 9,870.89, while the CAC 40 in Paris added 0.2% to 8,121.32.
Stock exchanges including those in London, Paris, Hong Kong and Australia have closed early or will be closing early on Christmas Eve. Germany's markets were closed for the day.
U.S. markets will end early Wednesday for Christmas Eve and stay closed for Christmas.
In Asian trading, Tokyo’s Nikkei 225 fell 0.1% to 50,344.10 and South Korea's Kospi slipped 0.2% to 4,108.62.
Hong Kong’s Hang Seng gained 0.2% to 25,818.93. The Shanghai Composite index edged 0.5% higher, to 3,940.95.
In Australia, the S&P/ASX 200 slipped nearly 0.4% to 8,762.70. Taiwan's Taiex picked up 0.2% while the Sensex in India fell 0.1%.
Gold and silver extended their rally after hitting record highs this week driven by heightened geopolitical tensions. The price of gold rose 0.3% early Wednesday to $4,525.20 per ounce, adding to gains of about 70% for the year. Silver rose 1.6%.
On Tuesday, big gains for tech stocks pushed the S&P 500 up 0.5%, even though most stocks in the index fell. The Dow industrials added 0.2% and the Nasdaq composite rose 0.6%.
The U.S. government’s first estimate of growth for the third quarter showed inflation remained high, while a separate report said consumer confidence faded further in December. The U.S. economy expanded at a 3.8% annual pace in April-June.
The Federal Reserve’s favored inflation gauge — called the personal consumption expenditures index, or PCE — climbed to a 2.8% annual pace in the last quarter, up from 2.1% in the second quarter.
On Wednesday, the Labor Department will release its weekly data on applications for jobless benefits, which stands as a proxy for U.S. layoffs.
Investors are betting the Fed will hold steady on interest rates at its January meeting. Recent reports show high inflation and shaky confidence among consumers worried about high prices. The labor market has been slowing and retail sales have weakened.
In other dealings early Wednesday, the dollar continued to fall against the Japanese yen, after officials said they could intervene with excessive moves in the yen. The dollar was trading at 155.83 yen, down from 156.17 yen.
The euro rose to $1.1797 from $1.1796.
Oil prices edged higher as traders kept an eye on risks of supply disruptions in Venezuela and Russia.
U.S. benchmark crude oil added 12 cents to $58.50 per barrel. Brent crude gained 8 cents to $61.95 per barrel.
