Stock market today: Asian shares trade mixed after Big Tech rally on Wall Street

The Fed has already hiked its main interest rate to the highest level in more than two decades, and it has said it will make upcoming moves based on how inflation and other parts of the economy perform. Inflation has come down from last year’s peak above 9%, but economists warn the last bit of improvement to get to the Fed’s target could be the most difficult to achieve.

Monday on Wall Street, the S&P 500 rose 0.7% to 4,487.46, coming off its first losing week in the last three. The Dow Jones Industrial Average gained 0.3% to 34,663.72 and the Nasdaq composite climbed 1.1% to 13,917.89. Qualcomm rose 3.9% after it announced a deal to supply 5G equipment for Apple in its phone launches in 2024 through 2026.

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