LONDON (Reuters) -British house prices hit a new record high in October but the 0.2% rise from September was the smallest in three months and demand could remain subdued if...
Asian shares advanced Thursday, tracking a blistering rally on Wall Street, with Japan’s Nikkei 225 index surging over 42,000 for the first time. On Wednesday, the U.S. stock market vaulted to more all-time highs, led by big technology companies whose shares have been soaring thanks to the frenzy over artificial intelligence. The Nikkei 225 jumped 0.8% to 42,179.84, again surpassing its all-time high after closing at records on Tuesday and Wednesday.
The S&P 500 and Nasdaq Composite set closing highs on Wednesday as the stock market roared higher ahead of a key inflation reading. The Dow Jones Industrial Average rallied in the final hour of trading to close up 429 points, or 1.
The S&P 500 and Nasdaq Composite were on track to build on a recent string of record closing highs as Fed Chair Powell sat before Congress for a second day of testimony. The Dow was up 50 points, or 0.1%. The S&P 500 was up 0.2%.
Stocks opened mostly higher and bond yields pulled back on Federal Reserve Chair Jerome Powell’s second day of congressional testimony. The Nasdaq Composite was up 0.5%. The yield on the 10-year Treasury note was down to 4.285% following promising inflation data in China and Norway.
The Dow traded places with the Nasdaq. The blue-chip index was up 100 points, or 0.3%, in midday trading. The S&P 500 was up 0.2%. The Nasdaq Composite was down 0.1%. The S&P 500 is on track to close at another record.
The stock market was quiet again to start the day on Tuesday as all eyes turned to Federal Reserve Chair Jerome Powell’s coming testimony. The Nasdaq Composite was up 0.3%. Powell kicks off his semiannual testimony to Congress before the Senate Banking Committee at 10 a.m. He’ll go to the House Financial Services Committee on Wednesday.
If the Fed cuts interest rates, it faces the prospect of a disruptive about-face should former President Donald Trump win the November presidential election, Barron’s ideas editor writes.
-- China’s trade balance shrank more than expected in July, hit by a smaller-than-expected increase in exports as European tariffs on the electric vehicle industry...
-- Chinese exports grew more than in May, buoyed by steady industrial output and overseas demand, which saw the country’s trade balance grow much more than...