Asian shares traded mixed Wednesday, as investors weighed recent data highlighting a slowing U.S. economy that offers both upsides and downsides for Wall Street.
On Tuesday, the S&P 500 ticked up by 0.2% to 5,291.34, though more stocks within the index fell than rose. The Dow Jones Industrial Average rose 0.4% to 38,711.29, and the Nasdaq composite added 0.2% to 16,857.05. The risk is that the economy might overshoot and end up in a painful recession that would cause layoffs for workers across the country and weaken corporate profits, dragging stock prices lower. at the end of April dropped to the lowest level since 2021. The numbers suggest a return to “a normal job market” following years full of strange numbers caused by the COVID-19 pandemic, according to Bill Adams, chief economist for Comerica Bank.
Early Wednesday, benchmark U.S. crude lost 2 cents to $73.23 a barrel. Brent crude, the international standard, added 3 cents to $77.55 a barrel. Elsewhere on Wall Street, Bath & Body Works tumbled 12.8% for the worst loss in the S&P 500 despite topping expectations for revenue and profit in the latest quarter. also gave back some of its big gain from the day before, when euphoria broke out after a central character in the stock’s 2021 run returned to say he had built a stake in the video-game retailer. It dropped 5.4%.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today (May 13, 2024): Asian stocks drift after Wall Street closes another winning weekHONG KONG — Asian stocks were mostly lower on Monday after Wall Street coasted to the close of another winning week. U.S. futures were mixed and oil prices fell. The release of weak Chinese lending data and news that the U.S.
Source: BusinessMirror - 🏆 19. / 59 Read more »
Stock market today (May 22, 2024): Wall Street drifts higher to set more recordsNEW YORK — U.S. stock indexes drifted higher Tuesday to set more records following another quiet day of trading. The S&P 500 rose 13.28 points, or 0.3%, to 5,321.41 and surpassed its record set last week. The Nasdaq composite added 37.75, or 0.2%, to 16,832.
Source: BusinessMirror - 🏆 19. / 59 Read more »
Stock market today (May 7, 2024): Wall Street rises to add to last week’s gainsU.S. stocks rose Monday and added to their gains from last week, as technology companies once again led the way. The S&P 500 rose 52.95, or 1%, to 5,180.74. The Dow Jones Industrial Average added 176.59, or 0.5%, to 38,852.27, and the Nasdaq composite jumped 192.92, or 1.2%, to 16,349.25.
Source: BusinessMirror - 🏆 19. / 59 Read more »
Stock market today (May 29, 2024): Asian shares decline after a mixed post-holiday session on Wall StreetAsian shares were mostly lower Wednesday after a mixed session on Wall Street following a three-day holiday weekend. Shares fell in Tokyo, Seoul, Sydney and Hong Kong, but rose in Shanghai. Mainland Chinese markets were lifted by moves by city governments in China to support the property market.
Source: BusinessMirror - 🏆 19. / 59 Read more »
Stock market today (May 14, 2024): Asian shares mixed in muted trading after Wall Street barely budgesTOKYO — Asian shares were mixed in muted trading Tuesday after U.S. stock indexes were little changed ahead of the release of inflation data. Japan's benchmark Nikkei 225 lost early gains and was trading less than 0.1% higher at 38,194.38. Australia's S&P/ASX 200 slipped 0.2% to 7,731.40.
Source: BusinessMirror - 🏆 19. / 59 Read more »
Stock market today (May 15, 2024): Asian markets follow Wall Street higher ahead of US key inflation updateAsian stocks were mostly higher on Wednesday after a rally on Wall Street that took the Nasdaq composite index to a record high.
Source: BusinessMirror - 🏆 19. / 59 Read more »