Asian stocks mixed after Wall Street extends losses as technology and energy stocks fall

Currency traders work near a screen showing the Korea Composite Stock Price Index at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Sept. 5, 2024. – Asian markets were mixed Thursday following a global sell-off a day earlier, as Wall Street declined in the technology, energy and other sectors.Data released Thursday showed Japan's wage growth remains strong, as average cash earnings in July grew 3.

The Labor Department reported that there were 7.7 million open jobs in July, down from 7.9 million in June and the fewest since January 2021. Openings have fallen steadily this year, from nearly 8.8 million in January. But overall, the report was mixed, with hiring having risen last month. The U.S. will release its monthly jobs report for August on Friday. Economists polled by FactSet expect that report to show that the U.S. added 160,000 jobs, up from 114,000 in July, and that the unemployment rate edged lower to 4.2% from 4.3%. The report’s strength, or weakness, will likely influence the Fed’s plans for how it trims its benchmark interest rate.

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Asian stocks mixed after Wall Street extends losses as technology and energy stocks fallAsian markets are mixed following Wednesday’s global sell-off, as Wall Street declined in the technology, energy and other sectors. U.S. futures fell, while oil prices were higher. The S&P 500 fell 0.2% Wednesday, following a 2.1% drop a day earlier. The Nasdaq composite dropped 0.3%. The Dow managed a gain of 38 points, or 0.1%.
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Asian stocks mixed after Wall Street rallies as 'time has come' for rate cutsAsian stocks are mixed after U.S. stocks rallied close to their records on the expectation the Federal Reserve will start cutting interest rates soon to help the economy. U.S. futures edged lower. Oil prices rose Monday. On Friday, Fed Chair Jerome Powell said the time had come to lower the main interest rate from a two-decade high.
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Asian stocks mixed after Wall Street rallies as 'time has come' for rate cutsAsian stocks are mixed after U.S. stocks rallied close to their records on the expectation the Federal Reserve will start cutting interest rates soon to help the economy.
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