World Shares Gain on Trump Oil Blockade12/17 04:34

   Shares advanced Wednesday in Europe and Asia as strong buying of technology 
shares helped lift some benchmarks, while the price of U.S. crude briefly 
surged more than 2% after President Donald Trump ordered a blockade of all 
"sanctioned oil tankers" into Venezuela.

   BANGKOK (AP) -- Shares advanced Wednesday in Europe and Asia as strong 
buying of technology shares helped lift some benchmarks, while the price of 
U.S. crude briefly surged more than 2% after President Donald Trump ordered a 
blockade of all "sanctioned oil tankers" into Venezuela.

   Trump's move followed the seizure by U.S. forces last week of an oil tanker 
off Venezuela's coast, an unusual move that followed a buildup of military 
forces in the region as his administration ramps up pressure on the country's 
authoritarian leader Nicols Maduro.

   The future for the S&P 500 edged 0.1% higher and that for the Dow Jones 
Industrial Average was virtually unchanged.

   In Germany, the DAX added 0.3% to 24,138.73, while the CAC 40 in Paris was 
up 0.1% to 8,115.18. Britain's FTSE 100 surged 1.4% to 9,817.65.

   Tokyo's Nikkei 225 gained 0.3% to 49,512.28 as traders awaited a decision on 
an interest rate hike by the Bank of Japan later in the week.

   Adding to expectations for a rate hike, Japan reported its exports rose 6% 
in November from a year earlier, as shipments to the U.S. rose for the first 
time since March. A trade deal with the Trump administration that set tariffs 
on imports from Japan at a baseline rate of 15%, down from the initial plan for 
a 25% helped boost exports of cars and chemicals, among other key manufactured 
goods.

   Hong Kong's Hang Seng climbed 0.9% to 25,468.78, while the Shanghai 
Composite index jumped 1.2% to 3,870.28.

   In South Korea, the Kospi advanced 1.4% to 4,056.41, lifted by computer chip 
maker SK Hynix, which gained 4%, and a 5% jump for Samsung Electronics.

   Australia's S&P/ASX 200 gave up 0.2% to 8,585.20.

   On Tuesday, U.S. stocks drifted through a mixed day of trading after reports 
on the U.S. economy did little to clear up uncertainty about where interest 
rates may be heading.

   One report said the U.S. unemployment rate was at its worst level since 2021 
in November, but employers also added more jobs last month than economists 
expected. A separate report, meanwhile, said an underlying measure of strength 
for revenue at U.S. retailers grew more in October than economists expected.

   The S&P 500 slipped 0.2%, staying a bit below its all-time high set last 
week. The Dow Jones Industrial Average dipped 0.6% and the Nasdaq composite 
rose 0.2%.

   The varied economic data left intact traders' hopes that the Federal Reserve 
may continue to cut interest rates in 2026. What the Fed does with interest 
rates is a top driver for financial markets because lower rates can boost the 
economy and prices for investments, even if they also may worsen inflation.

   A report coming on Thursday will show how bad inflation was last month, and 
economists expect it to show prices for U.S. consumers continue to rise faster 
than anyone would like.

   A report released on Tuesday suggested price pressures are rising sharply, 
with average selling prices for businesses climbing at one of the fastest rates 
since the middle of 2022. The preliminary data from S&P Global also said growth 
for overall business activity slowed to its weakest level since June.

   Overhanging the markets are questions about whether all the spending 
underway on AI technology will produce the kind of profits and productivity 
that will make it worth the expense.

   The sharpest losses on Wall Street came from companies in the oil business 
as prices for crude skidded. Expectations that companies are pumping more than 
enough oil to meet the world's demand sent the price for a barrel of benchmark 
U.S. crude to its lowest level since 2021.

   Early Wednesday, U.S. crude was up 99 cents, or 1.8%, at $56.26 per barrel. 
Brent crude, the international standard, picked up 96 cents, or 1.6%, to $59.88 
per barrel.

   In other dealings early Wednesday, the U.S. dollar rose to 155.48 Japanese 
yen from 154.73 yen. The euro slipped to $1.1717 from $1.1748.