Asian shares are mostly higher after another rally to record highs on Wall Street. Benchmarks in Tokyo, Seoul and Sydney rose, while Hong Kong fell and Shanghai was little changed. Stocks have been pushing broadly higher as companies turn in much stronger profit reports for the summer than analysts had expected. Historically low interest rates, along with strong corporate profit growth, have helped the S&P 500 more than double from the bottom it set in March 2020 in the early days of the coronavirus pandemic. On Monday, the S&P 500 gained 0.5% while the Dow Jones Industrial Average surged 0.9%, both closing at record highs.
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Asian stock markets are mixed after Wall Street rose for a fifth day on strong corporate earnings. Shanghai and Seoul fell while Tokyo and Hong Kong advanced. Wall Street’s benchmark S&P 500 index rose 0.7%, propelled by health care and tech stocks. Johnson & Johnson, the biggest maker of health products, reported strong quarterly profit and raised its earnings forecast for the year. Investors were watching for inflation updates from Britain and some other European governments. Higher inflation might force central banks to act sooner than planned on hiking interest rates and rolling back other economic stimulus.
Stocks are closing higher on Wall Street Tuesday, giving the S&P 500 its fifth straight gain and getting it closer to the record high it set in early September. The Dow Jones Industrial Average and the Nasdaq also closed higher. Health care companies made some of the biggest gains. Johnson & Johnson rose after raising its 2021 profit forecast again. The yield on the 10-year Treasury note rose.
Asian stock markets have followed Wall Street higher as investors wait for more U.S. corporate results to see how companies are coping with supply disruptions and the past quarter’s surge in coronavirus infections. Shanghai, Tokyo, Hong Kong and Sydney advanced. Wall Street’s benchmark S&P 500 index rose 0.3%, propelled by tech and consumer stocks. Health care giant Johnson & Johnson, United Airlines and streaming entertainment service Netflix were due to report earnings. Investors worry supply disruptions and anti-coronavirus controls are fueling inflation and might hamper an economic recovery. The Commerce Department was due to report U.S. housing construction in September.
Asian shares are mostly higher, tracking an overnight rally on Wall Street as investors sought out bargains, including technology stocks. Benchmarks rose in Tokyo, Seoul and Sydney in morning trading. Markets in Hong Kong were closed for a holiday. Shares in Shanghai were little changed after the government reported a surge in consumer and producer prices. Singapore's Monetary Authority tightened its policy, citing price pressures. Shares were mostly higher on Wall Street as the S&P 500 broke a three-day losing streak. Federal Reserve minutes showed the central bank might begin to taper the unprecedented financial support it has been giving the economy since the early days of the pandemic.
Shares are mixed in Asia after an up-and-down day on Wall Street ended with most benchmarks lower as traders waited for updates on inflation and corporate earnings. Stocks fell in Tokyo, Sydney and Shanghai but rose in Seoul. Hong Kong was closed for a holiday. The S&P 500 fell 0.2% Tuesday and the Dow Jones Industrial Average fell 0.3%. The Nasdaq slipped 0.1%, but small-company stocks ended higher. A mix of retailers and other companies that rely on direct consumer spending gained ground, but those gains were offset by falling technology and communications stocks. U.S. crude oil prices held steady at just above $80 a barrel. The yield on the 10-year Treasury note fell to 1.57%.
Asian shares have gained, tracking a rally on Wall Street after signs of progress on resolving the standoff in Congress over the debt ceiling. Benchmarks in Japan, South Korea, Australia and Hong Kong are higher in early trading. Shanghai trading is closed for a Chinese national holiday. Analysts say the vaccination rollout will speed up a lifting of measures to curb the spread of COVID-19 restrictions and lead to a gradual regional recovery. But areas where the rollout has been slower are at risk for setbacks. Stocks closed higher on Wall Street as investors recovered from nearly a week of volatility.
Asian shares are slipping in cautious trading Wednesday, shrugging off a rally on Wall Street led by technology companies and banks that erased most of the losses from the previous day’s sell-off. Benchmarks fell in Japan, South Korea, Australia and Hong Kong. Shanghai trading was closed for the Chinese national holidays. Worries remain in Asia about ongoing coronavirus infections, although hopes are growing that economic activity will return closer to normal later this year. The market has been choppy for weeks as investors try to gauge how the economy will continue its recovery with COVID-19.
President Joe Biden is urging Republican senators to “get out of the way” and let Democrats suspend the nation’s debt limit. Biden said Monday he wants action to keep the U.S. government from coming dangerously close to a devastating credit default. Senate Republican leader Mitch McConnell refuses to lend his party’s help on the issue. McConnell is forcing Senate Democrats into a cumbersome process that could brush up against a deadline with little margin for error. But the Republican leader says the Democrats can deal with that, adding he suggests his Democratic colleagues "get moving."
Shares have fallen in Asia after a broad slide on Wall Street led by technology companies. Tokyo's Nikkei dropped 3%, while oil prices edged higher. China-U.S. tensions regained attention after U.S. Trade Representative Katherine Tai said she plans frank conversations with officials in Beijing about an interim trade deal aimed at resolving a tariff war. On Monday, the S&P 500 fell 1.3% while the tech-heavy Nasdaq gave up 2.1%. The price of U.S. oil rose to nearly $78 per barrel, its highest level since 2014 as OPEC and allied oil producers stuck to a plan for cautious production increases even as global demand for crude surges. The yield on the 10-year Treasury note held steady at 1.48%.