TOKYO — Asian shares rose Wednesday, boosted by a Wall Street rally that came on positive reports on consumer confidence and job openings.
That was lower than the expected 5.2%, marking the first time since February 2022 that the indicator fell below 5%. Big tech stocks powered much of the rally Tuesday. Apple rose 2.2% and Nvidia climbed 4.2%. Advancers outnumbered decliners by 4 to 1 on the New York Stock Exchange. Bond yields fell broadly. Markets in Europe and Asia also rose.
“Markets reacted to the release of the consumer confidence and job opening reports by rallying, with both bonds and stocks up on the news as odds for a Federal Reserve rate hike at their next meeting in September fell,” said Sam Millette, fixed income strategist for Commonwealth Financial Network.for more than a year to its highest level since 2001, in an effort to bring inflation back down to its 2% goal.
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Stock market today: Wall Street quiet ahead of consumer, labour reportsWall Street was quiet early Tuesday ahead of some potentially market-moving jobs data and a survey reflecting consumers' feelings about the economy.
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