NEW YORK — U.S. stocks are hanging near their records Monday following a wild start to the week for financial markets in Asia, where Japanese stocks tumbled and Chinese indexes soared.
“Payrolls remain the biggest catalyst” for the U.S. stock market until the election, strategists and economists at Bank of America wrote in a BofA Global Research report.Stock market today: Dow sets a record as Wall Street drifts to the finish of another winning weekAt Goldman Sachs, economist David Mericle says he’s expecting Friday’s report to show hiring in September was stronger than the 146,000 growth in payrolls that economists across Wall Street are broadly forecasting.
Japan’s Nikkei 225 slumped 4.8% on that the country’s incoming prime minister will support higher interest rates and other policies that investors see as less market-friendly. Shigeru Ishiba is set to take over on Tuesday.
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