Stock market today: Global shares rise, buoyed by Wall Street rally from bonds and lower oil prices

📆 05-10-23 09:03:00
📰 AP

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Global shares are mixed after a plunge in oil prices aided a recovery on Wall Street. European benchmarks fell while Asian markets were mostly higher. U.S. futures declined and oil prices resumed their decline after gaining earlier in the day. Treasurys were steady. Market sentiment was helped by a $5 decline in oil prices on Wednesday, its biggest drop in a year. Lower energy costs would relieve inflationary pressures that have led the Federal Reserve and other central banks to keep interest rates high. On Wednesday, the S&P 500 climbed 0.8% and the Dow Jones Industrial Average rose 0.4%. The Nasdaq composite gained 1.4%.

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Japan’s benchmark Nikkei 225 jumped 1.8% to finish at 31,075.36. Sydney’s S&P/ASX 200 gained 0.5% to 6,925.50, while South Korea’s Kospi was little changed, inching down less than 0.1% to 2,403.60. The Hang Seng index in Hong Kong gained 0.1% to 17,213.87.Stock market today: Asian shares are sharply lower, tracking a rates-driven tumble on Wall StreetBenchmark U.S. crude oil dropped 90 cents to $83.32 a barrel in electronic trading on the New York Mercantile Exchange. It fell $5.

The yield on the 10-year Treasury, which is the centerpiece of the bond market, pulled back from its highest level since 2007, down to 4.74% early Thursday from 4.80% late Tuesday. Shorter- and longer-term yields also eased to allow more oxygen for the stock market.next year than it had earlier expected. Treasury yields have correspondingly snapped higher as traders accept a new normal for markets of high rates for longer.as the speaker of the House of Representatives.

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