Global stock market rally runs out of steam
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SEOUL, Korea, Republic Of — Global stocks turned lower on Thursday as investors became cautious after a days-long run pushed U.S. indexes to record highs.
KEEPING SCORE: Britain's FTSE 100 was down 0.5
US ECONOMY: On Wednesday, reports of stronger retail sales and inflation showed that the U.S. economy was stronger than expected. Consumer prices rose 2.5
CORPORATE EARNINGS: Shares in consumer goods companies were under pressure after food and drinks giant Nestle said its earnings were weighed down last year by weak prices. Nestle shares were down over 2
SAMSUNG: Samsung Electronics Vice Chairman Lee Jae-yong attended a court hearing in a bid to avoid his arrest for a second time. South Korean prosecutors investigating a massive corruption scandal that led to the impeachment of President Park Geun-hye suspect that the Samsung heir bribed the president and her friend to win government
ASIA'S DAY: Asian markets closed mixed. Japan's Nikkei 225 fell 0.5
CURRENCIES: The dollar fell to 113.61 yen from 114.02 while the euro strengthened to $1.0635 from $1.0615.
OIL: Benchmark U.S. crude gained 27 cents to $53.38 per barrel. The contract finished 9 cents lower on Wednesday. Brent crude, the international standard, was up 37 cents at $56.12 a barrel in London.