Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Stock Market»Stock market today: Asian stocks slip, while Australian index tracks Wall St rally to hit record
    Stock Market

    Stock market today: Asian stocks slip, while Australian index tracks Wall St rally to hit record

    July 17, 20244 Mins Read


    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 were mixed and oil prices were little changed.

    In Tokyo, the Nikkei 225 index gave up early gains to shed 0.4% to 41,095.23. Reports said the Finance Ministry might have intervened in the currency market last week, buying nearly 6 trillion yen ($37 billion) to support the yen.

    The U.S. dollar rose to 158.42 Japanese yen from 158.34 yen on Wednesday. The yen weakened to 161.85 to the dollar last Wednesday and picked up to 157.89 last Friday.

    Australia’s S&P/ASX 200 advanced 1% to 8,076.80, hitting an all-time high. South Korea’s Kospi shed 0.2% to 2,859.64.

    Hong Kong’s Hang Seng gained 0.3% to 17,777.56, while the Shanghai Composite index lost 0.2% to 2,971.38.

    Elsewhere, Taiwan’s Taiex declined 0.1%, 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. Unlike other record-setting days, Tuesday’s came after a widespread rally where nearly nine out of every 10 stocks in the S&P 500 rose, instead of just the handful of influential Big Tech stocks that have been behind most of this year’s returns.

    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, as the stars dimmed for some of the year’s biggest winners.

    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 an assassination attempt over the weekend.

    Trump Media & Technology Group fell 9.1%, a day after leaping 31.4%. Shares of the company behind Trump’s Truth Social platform regularly swing by big percentages each day, up or down.

    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. It’s fallen from 4.70% in April, which is a major move for the bond market and has given a solid boost to stock prices.

    Yields have eased on rising expectations that inflation is slowing enough to convince the Federal Reserve to begin cutting interest rates soon. The Fed has been keeping its main interest rate at the highest level in more than two decades in hopes of slowing the economy just enough to get inflation fully under control.

    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. A month ago, they saw a 70% chance.

    Risks lie on both sides of the tightrope that the Federal Reserve is currently walking. The central bank hopes to ease the brakes that it’s applied to the economy through high interest rates at the precisely correct time. Easing too soon could allow inflation to reaccelerate, but easing too late could cause a recession. Tuesday’s data on retail sales points to an economy that is remaining resilient so far.

    In other dealings, U.S. benchmark crude oil lost 9 cents to $80.67 per barrel in electronic trading on the New York Mercantile Exchange.

    Brent crude, the international standard, gave up 15 cents to $83.58 per barrel.

    The euro rose to $1.0903 from $1.0897.

    ___

    AP Business Writer Stan Choe contributed.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    MouNa Group Technology remet un important lot d’ordinateurs aux étudiants des CPGE dans le cadre du Programme Simandou Academy

    Stock Market

    DTD: Dividend Investing Makes More Sense Than Ever (NYSEARCA:DTD)

    Stock Market

    3 Ultra-High-Yield Dividend Stocks I Don’t Plan on Ever Selling

    Stock Market

    Toronto-Dominion Bank vs. Annaly Capital Management

    Stock Market

    The Best Dividend Stocks I’d Buy Right Now

    Stock Market

    Vosges. À Saint-Dié, le supermarché Vosges Market rouvre ses portes après plusieurs semaines de fermeture administrative

    Stock Market
    Leave A Reply Cancel Reply

    Top Picks
    Commodities

    52 lakh parcels of agricultural land stillregistered in names of deceased people | Bengaluru News

    Commodities

    Kingsview Wealth Management LLC Sells 33,631 Shares of SM Energy (NYSE:SM)

    Property

    Wing Lee Property Investments prévoit une perte nette de 233 à 235 millions de dollars HK pour 2024 -Le 06 mars 2025 à 14:03

    Editors Picks

    5 things you didn’t know you could buy with cryptocurrency

    April 17, 2025

    Growing Demand for Affordable Property Investment Solutions

    October 23, 2024

    Simon Property Group, Inc. : Stifel Nicolaus toujours positif

    May 13, 2025

    The illusion of stability – Opinion News

    April 18, 2025
    What's Hot

    La dette américaine perd son “triple-A” !

    May 19, 2025

    Acquise par AA Investments, Bonne Gueule sort du redressement judiciaire

    June 27, 2025

    Finfra Raises US$2.5M, Partners with Tyme for Embedded Lending in Indonesia

    October 29, 2024
    Our Picks

    How can new agtech reach an aging farming population?

    March 25, 2025

    Soirée Death metal et punk hardcore ce soir dans cette salle du Val-d’Oise

    March 1, 2025

    INTERVIEW: Hungarian refiner MOL eyes non-Russian crude contingencies

    October 11, 2024
    Weekly Top

    Ontario funds two miners aiming to boost critical mineral recoveries

    July 6, 2025

    Next Cryptocurrency to Explode, 6 July — Story, Alchemy Pay, Injective, MX Token

    July 6, 2025

    Ukraine imposes sanctions on Russian financial, cryptocurrency schemes

    July 6, 2025
    Editor's Pick

    China Silver Technology annonce la nomination de Kam Kit au poste de directeur exécutif

    April 3, 2025

    This African Fintech Is Giving Workers A Better Way To Send Money Home

    August 21, 2024

    The Commodities Feed: Focus shifting back to tariffs | articles

    June 26, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.