Stock market today: Asian shares are mostly higher after the Dow hits a record high, US dollar falls
Shares are mostly higher in Asia after a powerful rally across Wall Street sent the Dow Jones Industrial Average to a record high as the Federal Reserve indicated that interest rate cuts are likely next year.
Asian shares mixed on China rebound, pandemic worries
Asian shares were mixed Wednesday as data showed a strong economic recovery in China but worries lingered about the coronavirus pandemic. (AP Photo/Koji Sasahara)TOKYO โ Asian shares were mixed Wednesday as pointed to a strong economic recovery in China but worries lingered about the coronavirus pandemic. A survey released Wednesday shows Chinaโs factory activity rebounded in March from a three-month slowdown as export orders rose. U.S. stock indexes fell as another swell higher for Treasury yields pressured big technology stocks. AdHealth care stocks also dragged shares lower, outweighing gains by banks, industrial stocks and companies that rely on consumer spending.
S&P 500 returns to a record high after best day in weeks
Stocks rose in afternoon trading on Wall Street Friday with technology companies and banks leading the way higher. The Dow Jones Industrial Average rose 453.40 points, or 1.4%, to 33,072.88, and both it and the S&P 500 set all-time highs. The higher yields helped lift stocks of banks, in part because higher interest rates allow them to make bigger profits from making loans. Steelmaker Nucor climbed 8.9% for the biggest gain in the S&P 500, and miner Freeport-McMoRan rose 5.9%. AdSince interest rates began rising last autumn, tech stocks have been most caught within the the market's crosswinds.
Asia shares mostly higher after US stocks gain for fifth day
(AP Photo/Ahn Young-joon)BANGKOK โ Asian shares mostly rose on Tuesday, cheered by a rally to all-time highs on Wall Street. On Wall Street, the S&P 500 rose 0.7% to 3,368.94 after having been down 0.5% in early trading, extending its winning streak to a fifth day. Technology stocks, airlines, cruise operators and other companies that rely on consumer spending helped lift the market. The mild drop in yields has affected bank stocks, where investors have placed big bets that higher yields would translate into banks charging borrowers higher rates. The bond market has pulled tech stocks mostly lower this year, because as yields push interest rates higher, they make high-flying stocks look expensive.
Stocks mostly shake off a weak start, edge to more records
Stocks are off to a mixed start on Wall Street as another sharp rise in bond yields unsettled investors. (AP Photo/Mark Lennihan, File)BANGKOK โ A late-afternoon burst of buying helped nudge several U.S. stock indexes to all-time highs Friday, despite a pullback in Big Tech companies as bond yields headed higher. The bond market was the dominant force in pulling tech stocks mostly downward, because as yields push interest rates higher, they make high-flying stocks look expensive. Investors had sold off stocks late last week after that yield crossed above the 1.60% mark. But as the pandemic eases this year, and bond yields rise, more expensive stocks such as these have struggled.
Asian shares mixed after stimulus lifts Dow, S&P to records
Stocks were mixed in Asia on Friday after broad gains lifted several major indexes to all-time highs on Wall Street. (AP Photo/Lee Jin-man)Stocks were mixed in Asia on Friday after broad gains lifted several major indexes to all-time highs on Wall Street. Tokyoโs benchmark rose 1% while Chinese indexes slipped as investors cashed in on recent surges in share prices. Traders also bid up shares in smaller stocks, pushing the Russell 2000 index up 2.3% to 2,338.54. AdThe stimulus coupled with ultra-low interest rates are expected to help charge growth as industries bounce back from pandemic downturns, analysts say.
Asian shares advance as yields, inflation fears moderate
Shares rose in Tokyo, Shanghai and Hong Kong but edged lower in Sydney. On Wall Street, energy and financial stocks rose while Big Tech shares declined. The S&P 500 added 0.6% and the Dow Jones Industrial Average hit a record high, though tech stocks pulled the Nasdaq slightly lower. But core inflation, excluding food and energy, posted a much smaller 0.1% gain, easing fears that the inflation might surge as the economy recovers from the pandemic. The fall in bond prices, which are inversely related to yields, attracted investors reluctant to pay high prices for stocks, especially tech stocks that looked most expensive.
Asian stocks follow Wall St higher after tech rally
(AP Photo/Koji Sasahara)TOKYO โ Asian stock prices followed Wall Street higher on Wednesday following a rally for major tech companies. Wall Street's benchmark S&P 500 index closed up 1.4%, led by gains for Apple, Amazon and other tech majors. A reversal in bond market trends at least temporarily sent investors back to companies they hope will thrive after the coronavirus pandemic ends. The Dow Jones Industrial Average, which is weighted less toward tech, rose 0.1% to 31,832.74. The fall in bond prices drew investors who didn't want to pay high prices for stocks, especially tech stocks that looked most expensive.
Asian shares track Wall St decline as bond yields rebound
Asian shares fell Thursday, tracking a decline on Wall Street as another rise in bond yields rattled investors who worry that higher inflation may prompt central banks to raise ultra-low interest rates. (AP Photo/Ahn Young-joon)BANGKOK โ Asian shares fell Thursday, tracking a decline on Wall Street as another rise in bond yields rattled investors who worry that higher inflation may prompt central banks to raise ultra-low interest rates. Shares have yoyo'd recently with fluctuations in bond yields. When yields rise quickly, as they have in recent weeks, it forces Wall Street to rethink the value of stocks. U.S. government bond yields rose Wednesday after easing a day earlier.
Asian stocks follow Wall Street higher after Fed pledge
Major indexes are off to a mixed start on Wall Street as gains for banks and industrial companies are offset by losses in Big Tech stocks like Apple and Amazon. (AP Photo/Mark Lennihan)BANGKOK โ Asian stock markets followed Wall Street higher Thursday after the Federal Reserve chairman said the U.S. central bank is in no hurry to withdraw support for the economy. Overnight, Wall Street hit a new high after chairman Jerome Powell said the Fed sees no sign inflation might rise out of control. Global stock prices have soared over the past six months on hopes for a coronavirus vaccine and central bank promises of abundant credit to support struggling economies. The central bank earlier indicated it would let the economy โrun hotโ to make sure a recovery is well-established following the deepest slump since the 1930s.
Asian shares slip on jitters over inflation, interest rates
Shares fell in Asia on Wednesday as investors weighed the possibility that inflation might prompt central banks to adjust their ultra-low interest rate policies. (AP Photo/Eugene Hoshiko)TOKYO โ Shares fell Wednesday in Asia as investors weighed the possibility that inflation might prompt central banks to adjust their ultra-low interest rate policies. Investors remain increasingly focused on a big tick up in bond yields and how it affects stock valuations. However, โDespite reassuring comments on lower rates from the U.S. Federal Reserve chair Jerome Powell, Asia markets continued to look to concerns with regards to the rising bond yields," Pan said. The bet mostly paid off, as big tech companies reported big profits last year.
Asian shares mostly higher amid coronavirus vaccine optimism
Asian shares were mostly higher on Tuesday despite a sell-off in technology companies on Wall Street. (AP Photo/Kin Cheung)TOKYO โ Asian shares were mostly higher Tuesday despite a sell-off of shares in technology companies on Wall Street. Although the world's economies have been battered by the coronavirus pandemic, the deployment of COVID-19 vaccines is raising hopes for a recovery from the pandemic. โEquity investors are finally paying attention to the bond market,โ said Mike Zigmont, director of trading and research at Harvest Volatility Management. In energy trading, U.S. benchmark crude rose 76 cents to $62.46 a barrel in electronic trading on the New York Mercantile Exchange.
Asia stocks follow Wall St. down after weaker US jobs data
(AP Photo/John Minchillo)BANGKOK โ Asian stock markets followed Wall Street lower on Friday after disappointing U.S. jobs and economic data. Overnight, Wall Street's benchmark S&P 500 index lost 0.4% for its third straight daily decline. AdThe Shanghai Composite Index lost 0.9% to 3,641.63 and the Nikkei 225 in Tokyo sank 1% to 29,947.42. On Wall Street, the S&P 500 fell to 3,913.97. Congress is conducting a hearing on the recent volatility of companies caught in a tug-of-war between Wall Street institutional investors betting against the companies and the online retail investors who pushed shares higher.
Asian shares mostly lower after mixed day on Wall Street
Shares were mostly lower in Asia on Thursday after a mixed session on Wall Street as losses by technology and industrial companies offset other gains. (AP Photo/Lee Jin-man)TOKYO โ Shares were mostly lower in Asia on Thursday after a mixed session on Wall Street as losses by technology and industrial companies offset other gains. Underscoring signs of recovery, the Commerce Department said U.S. retail sales soared a seasonally adjusted 5.3% in January from the month before, the biggest increase since June and much larger than forecast. The yield on the 10-year Treasury slipped to 1.27% from 1.28% late Wednesday, near its highest level in a year. Last monthโs jump in retail sales was largely driven by the $600 stimulus checks that went out to most Americans in late December and early January.
Asian shares drop after US stocks' worst day since October
Asian shares skidded on Thursday as a reality check set in about longtime economic damage from the coronavirus pandemic, giving Wall Street its worst day since October. (AP Photo/Ahn Young-joon)Asian shares skidded on Thursday as a reality check set in about longtime economic damage from the coronavirus pandemic, giving Wall Street its worst day since October. Daily deaths had been mostly in single-digit figures until recently, but are now surpassing 100 people a day. On Wall Street, a sell-off in technology companies sent shares tumbling in a reversal from the market's recent moves to record highs. As a whole, analysts expect S&P 500 companies to say their fourth-quarter profit fell 5% from a year earlier.
Asian shares rise on optimism for more stimulus from Biden
Asian shares rose Thursday on optimism over the new U.S. administration that earlier set off a rally on Wall Street. (AP Photo/Ahn Young-joon)TOKYO โ Asian shares rose Thursday on optimism over the new U.S. administration that earlier set off a rally on Wall Street. On Wall Street, the S&P 500 rose 1.4%, topping its previous all-time high set earlier this month. The hope on Wall Street is that such stimulus will help carry the economy until later this year, when more widespread COVID-19 vaccinations get daily life closer to normal. The S&P 500 rose 52.94 points to 3,851.85.
Asian stocks track Wall St retreat as COVID caseloads surge
Asian shares were mostly lower Tuesday, echoing pullbacks on Wall Street, as worries grew about surging coronavirus cases in the region, with Japan preparing to declare a state of emergency. (AP Photo/Vincent Yu)BEIJING โ Asian shares were mostly lower Tuesday, echoing pullbacks on Wall Street as worries grow about surging coronavirus cases in the region. Hong Kong's Hang Seng fell nearly 0.1% to 27,448.20, while the Shanghai Composite dipped 0.1% to 3,498.65. Japan's prime minister has said the government is considering declaring a state of emergency to help curb the spread of infections. The worsening numbers also raise the possibility that Wall Street has been overly optimistic about the big economic recovery it sees coming because of COVID-19 vaccines.
S&P 500 ends at another record high as tumultuous 2020 ends
The benchmark S&P 500 index finished with a gain of 16.3% for the year, or a total return of about 18.4%, including dividends. And the S&P 500 rose or fell by at least 1% on twice as many days in 2020 than it did, on average, since 1950. The electric car maker jumped 743.4% in 2020 for the biggest gain in the S&P 500. All told, the S&P 500 set 33 record highs in 2020. The S&P 500 rose 24.03 points, or 0.6%, to 3,756.07, an all-time high.
Tokyo trading closed for holiday, other Asian indexes mixed
FILE - In this Dec. 30, 2020, file photo, an employee tolls the closing bell during a ceremony of the last trading day at the Tokyo Stock Exchange in Tokyo. Major Asian bourses were closed for the New Year's holidays Thursday, Dec. 31, while the handful that remained open was mixed. (JPX via AP)Major Asian bourses were closed for the New Year's holidays Thursday while the handful that remained open was mixed. Trading was closed in Tokyo and South Korea. The Tokyo exchange marked the end of trading for the year Wednesday, with the Nikkei falling 0.5%, and trading will not reopen until Monday next week.
Asian stocks mixed after Wall St falls on virus pressure
A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Friday, Dec. 11, 2020. Asian stock markets were mixed Friday after Wall Street sank following signs damage to the U.S. economy from the coronavirus is worsening while Congress is deadlocked over possible new aid. (AP Photo/Kin Cheung)Asian stock markets were mixed Friday after Wall Street sank following signs damage to the U.S. economy from the coronavirus is worsening while Congress is deadlocked over possible new aid. Shanghai and Tokyo retreated while Hong Kong and Seoul gained. The Hang Seng in Hong Kong advanced 0.4% to 26.524.01.
Shares mostly lower in Asia after tech-led drop on Wall St
A man wearing a face mask to protect against the coronavirus walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Thursday, Dec. 10, 2020. Stocks were mostly lower Thursday in Asia after weakness in technology companies shares led an overnight decline on Wall Street. (AP Photo/Kin Cheung)Stocks were mostly lower Thursday in Asia after weakness in technology companiesโ shares led an overnight decline on Wall Street. Benchmarks fell in Tokyo, Hong Kong and Sydney but edged higher in Shanghai. Hong Kong's Hang Seng index slipped 0.5% to 26,364.51 and the Nikkei 225 index in Tokyo gave up 0.3% to 26,735.63.
Asian shares inch higher on optimism over vaccines, stimulus
Shares were mostly higher in Asia on Thursday as investors were encouraged by progress toward rolling out coronavirus vaccines and talk of reaching a compromise on new help for the U.S. Hong Kong's Hang Seng edged 0.2% higher to 26,582.85 and the Nikkei 225 in Tokyo was almost unchanged at 26,806.37. Overnight, the S&P 500 index rose 0.2% to an all-time high of 3,669.01, a second straight record close. Nor by a report showing economic activity slowed in Novembe r as coronavirus cases surged. Payroll processor ADP said Wednesday that its latest survey of private U.S. employers shows they added 307,000 jobs last month.
Asian stocks gain on stronger Chinese factory data
Asian stocks rose Tuesday after Chinese manufacturing improved, with investors looking ahead to U.S. Federal Reserve Chairman Jerome Powells appearance before legislators. (AP Photo/Ahn Young-joon)TOKYO โ Asian stocks rose Tuesday after Chinese manufacturing improved, with investors looking ahead to U.S. Federal Reserve Chairman Jerome Powellโs appearance before legislators. An index of Chinese manufacturing released by a business magazine, Caixin, hit a decade high in November as the countryโs recovery from the pandemic gained strength. Strength in the Chinese economy is helping offset unease about rising virus cases in the United States and Europe and possible renewed controls on business and travel. One developer, Moderna, said Monday it is ready to apply for emergency approval in the United States and Britain.
Stocks rise on Wall Street as S&P 500 hits record high
(AP Photo/Ahn Young-joon)BEIJING โ The S&P 500 rose to a record high Friday as investors continue to look forward to the distribution of a COVID-19 vaccine and relief for the global economy. The benchmark index rose 8.70 points, or 0.2%, led by gains in technology companies, and closed at an all-time high of 3,638.35. The Nasdaq also closed at a record helped by gains in Apple, Tesla, Zoom and other tech companies. AstraZeneca shares were flat. European markets rose.
Asian shares mixed after Wall Street takes pause on optimism
TOKYO โ Asian shares were mixed Thursday, after Wall Street took a pause from the optimism underlined in a record-setting climb earlier in the week. โThe cautious mood that had been observed in the U.S. market had transpired to Asia into Thursday with recent euphoria equally running out of steam into midweek,โ said Jingyi Pan, senior market strategist at IG in Singapore. A separate report showed consumer spending posted the weakest gain since April. The Commerce Department said U.S. consumer spending, the primary driver of the economy, rose by a sluggish 0.5% in October, the weakest gain since April when the pandemic first erupted. At the same time, the government said that income, which provides the fuel for consumer spending, fell 0.7% in October.
EXPLAINER: Why the Dow topped 30,000 for the first time
NEW YORK โ Wall Street busted through its latest milestone Tuesday, when the Dow Jones Industrial Average topped 30,000 for the first time. But the Dow at 30,000 means less to most investorsโ 401(k) accounts than the fact that broader market indexes are also at record highs. HOW BIG A DEAL IS DOW 30,000? Nearly $4.6 trillion in investments directly track the S&P 500, while another $6.65 trillion measure themselves against the indexโs performance. One thing the Dowโs final leap to 30,000 indicates is that itโs no longer just tech stocks driving the market.
Asian shares rise after Dow crests 30,000 on vaccine hopes
Asian shares rose Wednesday after the Dow Jones Industrial Average closed above 30,000 points for the first time despite an ongoing pandemic, as progress in development of coronavirus vaccines kept investors in a buying mood. (AP Photo/Koji Sasahara)TOKYO โ Asian shares rose Wednesday after the Dow Jones Industrial Average closed above 30,000 points for the first time despite an ongoing pandemic, as progress in development of coronavirus vaccines kept investors in a buying mood. The Dow rose more than 450 points, or 1.5%, to cross the milestone. The S&P 500 index, which has a far greater impact on 401(k) accounts than the Dow, rose 1.6%, climbing to its own all-time high. Bannister also said the encouraging vaccine news continues to give hope there is an end in sight to the pandemic.
Wall Street slips amid worries about worsening pandemic
U.S. stocks are pulling a bit lower in midday trading Friday as worries about the worsening pandemic weigh on rising optimism about a coming coronavirus vaccine. The S&P 500 fell 0.7%, erasing its gains from a day earlier. โThatโs the big uncertainty.โThe S&P 500 fell 24.33 points to 3,557.54. Wall Street suddenly began to teeter-totter this week after a big November rally swept both the S&P 500 and Dow to record highs. The majority of stocks in the S&P 500 fell, with technology companies taking the heaviest losses.