News10NBC on Nostr: Stock market today: Asian stocks slip, while Australian index tracks Wall St rally to ...
Stock market today: Asian stocks slip, while Australian index tracks Wall St rally to hit record
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Asian stocks were mostly lower Wednesday even as investors wagered that the Federal Reserve will come ahead with a cut to interest rates, while Australia’s benchmark hit a new record. U.S. futures fell and oil prices advanced. In Tokyo, the Nikkei 225 index gave up early gains to shed 0.4% to 41,097.69. Australia’s S&P/ASX 200 advanced 0.7% to 8,057.90 after hitting an all-time high of 8,083.70 during morning trading. South Korea’s Kospi shed 0.8% to 2,843.29. Hong Kong’s Hang Seng gained 0.2% to 17,761.66, while the Shanghai Composite index lost 0.3% to 2,967.32. Taiwan’s Taiex declined 1%, with Taiwan Semiconductor Manufacturing Company’s stock falling 2.4%. The SET in Bangkok was up 0.2%. On Tuesday, the S&P 500 climbed 0.6% to 5,667.20, setting an all-time high for the 38th time this year. The Dow Jones Industrial Average leaped 1.9% to 40,954.48, and the Nasdaq composite lagged with a gain of 0.2% to 18,509.34. Several big winners from the day before, which benefited from heightened expectations for former President Donald Trump to retake the White House, gave back some of their immediate jumps following Trump’s dodging of over the weekend. Trump Media & Technology Group fell 9.1%, a day after leaping 31.4%. In the bond market, some of the prior day’s moves also reversed themselves. Longer-term yields sank more than shorter-term yields after a report showed sales at U.S. retailers held firm last month despite economists’ expectations for a decline. The yield on the 10-year Treasury dropped to 4.16% from 4.23% late Monday. Yields have eased on rising expectations that inflation is slowing enough to convince the Federal Reserve to begin cutting interest rates soon. Tuesday’s stronger-than-expected data on retail sales may give Fed officials some pause, because too-strong activity could keep upward pressure on inflation. But traders are still betting on a 100% probability that the Fed will cut its main interest rate in September, according to data from CME Group. In other dealings, U.S. benchmark crude oil added 1 cent to $79.72 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, gave up 8 cents to $83.65 per barrel.
https://www.whec.com/national-world/stock-market-today-asian-stocks-slip-while-australian-index-tracks-wall-st-rally-to-hit-record-2/
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Asian stocks were mostly lower Wednesday even as investors wagered that the Federal Reserve will come ahead with a cut to interest rates, while Australia’s benchmark hit a new record. U.S. futures fell and oil prices advanced. In Tokyo, the Nikkei 225 index gave up early gains to shed 0.4% to 41,097.69. Australia’s S&P/ASX 200 advanced 0.7% to 8,057.90 after hitting an all-time high of 8,083.70 during morning trading. South Korea’s Kospi shed 0.8% to 2,843.29. Hong Kong’s Hang Seng gained 0.2% to 17,761.66, while the Shanghai Composite index lost 0.3% to 2,967.32. Taiwan’s Taiex declined 1%, with Taiwan Semiconductor Manufacturing Company’s stock falling 2.4%. The SET in Bangkok was up 0.2%. On Tuesday, the S&P 500 climbed 0.6% to 5,667.20, setting an all-time high for the 38th time this year. The Dow Jones Industrial Average leaped 1.9% to 40,954.48, and the Nasdaq composite lagged with a gain of 0.2% to 18,509.34. Several big winners from the day before, which benefited from heightened expectations for former President Donald Trump to retake the White House, gave back some of their immediate jumps following Trump’s dodging of over the weekend. Trump Media & Technology Group fell 9.1%, a day after leaping 31.4%. In the bond market, some of the prior day’s moves also reversed themselves. Longer-term yields sank more than shorter-term yields after a report showed sales at U.S. retailers held firm last month despite economists’ expectations for a decline. The yield on the 10-year Treasury dropped to 4.16% from 4.23% late Monday. Yields have eased on rising expectations that inflation is slowing enough to convince the Federal Reserve to begin cutting interest rates soon. Tuesday’s stronger-than-expected data on retail sales may give Fed officials some pause, because too-strong activity could keep upward pressure on inflation. But traders are still betting on a 100% probability that the Fed will cut its main interest rate in September, according to data from CME Group. In other dealings, U.S. benchmark crude oil added 1 cent to $79.72 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, gave up 8 cents to $83.65 per barrel.
https://www.whec.com/national-world/stock-market-today-asian-stocks-slip-while-australian-index-tracks-wall-st-rally-to-hit-record-2/