Search / 15 results found

from
to
  • Updated

Worries about inflation weighed on Wall Street, leaving major indexes mixed after another bumpy day of trading. The S&P 500 fell 0.1% and the Nasdaq lost 0.2% after being down even more earlier in the day. The Dow ended slightly higher. A government report showing that wage growth accelerated last month spooked investors since it could mean the Federal Reserve will be less able to ease up on its fight against inflation. The yield on the two-year Treasury, which tends to track expectations for future Fed action, rose following the release of the report, which also showed that hiring was stronger than anticipated.

AP
  • Updated

Shares have advanced in Asia after a rally on Wall Street spurred by the chair of the Federal Reserve's comments on easing the pace of interest rate hikes to tame inflation. Benchmarks in Tokyo and Hong Kong surged more than 1%. While citing some signs that inflation is cooling, Fed Chair Jerome Powell stressed that the Fed will push rates higher than previously expected and keep them there for an extended period. The S&P 500 jumped 3.1% Wednesday. The tech-heavy Nasdaq rose 4.4% and the Dow Jones Industrial Average rose 2.2%. Treasury yields fell broadly and crude oil prices rose. Major indexes ended November with their second straight month of gains.

AP
  • Updated

Asian shares are trading mostly lower ahead of a closely watched speech by the Federal Reserve chief that may give clues about future interest rate hikes. Markets are also eyeing developments in China, where protests have erupted recently over the “zero-COVID” strategy that has confined millions of people to their homes, sometimes for months. Shares fell in Tokyo but were higher in Sydney, Seoul, Hong Kong and Shanghai. Authorities in China have eased some controls after demonstrations in at least eight mainland cities and Hong Kong. Security forces have detained an unknown number of people. Wall Street finished mixed.

AP
  • Updated

Asian shares are trading mostly higher as market jitters decline over protests in China set off by growing public anger over COVID-19 restrictions. Benchmarks rose in early trading in Australia, South Korea and China, while shares fell in Japan. Oil prices fell. Japanese government data showed that the unemployment rate for October was unchanged from September at 2.6%, while the available jobs per job seeker increased. China's economy has been stifled by a “zero COVID” policy which includes lockdowns that continually threaten the global supply chain. Stocks fell broadly on Wall Street.

AP
  • Updated

Asian shares have risen after solid earnings pushed retailers higher on Wall Street ahead of the Thanksgiving holiday in the U.S. Benchmarks rose in Hong Kong, Seoul and Sydney but fell in Shanghai. Markets were closed in Japan for a holiday. The Reserve Bank of New Zealand raised its benchmark rate by three-quarters of a point to 4.25%. On Tuesday, the S&P 500 rose 1.4% and the Dow Jones Industrial Average added 1.2%. The Nasdaq composite added 1.4%. Treasury yields slipped. Best Buy soared more than 12% after the Minneapolis-based consumer electronics chain did better than analysts expected and said a decline in sales for the year will not be as bad as it had projected earlier.

AP
  • Updated

Asian stock markets are mixed after Wall Street sank and Chinese anti-virus controls fueled concern about an economic slowdown. Shanghai and Hong Kong declined while Tokyo advanced. Oil prices gained. Wall Street declined for another day after a Federal Reserve official rattled investors last week by saying already-elevated interest rates might have to go higher than expected to stop surging inflation. Traders worry repeated rate hikes by the Fed and other central banks might tip the global economy into recession. In China, expanding restrictions on millions of people in multiple cities to fight virus outbreaks are adding to concern the world’s second-largest economy might weaken.

  • Updated

Stocks ended higher on Wall Street but still wound up with weekly losses after several days of bumpy trading. Some retailers posted big gains after reporting surprisingly strong quarterly results and giving investors encouraging forecasts. Gap, Ross Stores and Foot Locker all rose sharply. Energy stocks fell along with crude oil prices. The S&P 500 rose 0.5% Friday. The Nasdaq ended just barely in the green and the Dow Jones Industrial Average rose 0.6%. Bond yields rose. The yield on the 10-year Treasury note, which helps set mortgage rates, climbed to 3.82%.

AP
  • Updated

Asian stocks are mixed after Wall Street declined following indications the Federal Reserve plans to raise interest rates higher than expected to cool inflation. Shanghai declined while Tokyo and Hong Kong advanced. Oil prices gained. Wall Street’s benchmark S&P 500 index declined after a Fed official indicated its benchmark lending rate might have to be raised sharply to stop price rises. Officials have said this previously but traders hoped signs that economic activity was weakening might prompt the U.S. central bank to ease off. Traders worry large rate hikes this year by the Fed and central banks in Europe and Asia to stop multi-decade-high inflation might tip the global economy into recession.

AP
  • Updated

American game developer Blizzard Entertainment says it will suspend most of its game services in mainland China after current licensing agreements end with Chinese game company NetEase. The news sent NetEase’s shares tumbling Thursday. Blizzard partnered with NetEase in 2008 to offer popular games such as World of Warcraft, Overwatch and Diablo in mainland China. Blizzard says the two companies did not reach a suitable deal to renew the agreements, which are set to expire in January. NetEase shares plunged as much as 15% in Hong Kong. NetEase says the expiration of the licenses will have “no material impact” on its financial results.

AP
  • Updated

Asian shares mostly declined amid concerns about the impact of China’s “zero-COVID” strategy mixed with hopes for economic activity and tourism returning to normal. Benchmarks fell in Tokyo, Seoul, Hong Kong and Shanghai, while gaining in Sydney. Oil prices fell. Market watchers noted worries about how the Federal Reserve might not ease on its aggressive interest rate hikes, which are aimed at curbing inflation pressures. Retailers and technology companies led a broad slide on Wall Street. China is maintaining its “zero-COVID” approach to eliminate the coronavirus entirely. The localized lockdowns and other restrictions have caused a supply crunch for some of Asia’s biggest manufacturers, denting economic growth.