Stock market today: Global shares mostly rise after Wall Street rally

A visitor looks at an electronic stock board at Tokyo Stock Exchange Friday, Aug. 18, 2023 in Tokyo, Japan. Asian shares mostly rose Thursday, Aug. 24, after Wall Street rallied to its best day since June after pressures from the bond market relaxed a bit. – Global markets mostly rose Thursday after Wall Street rallied to its best day since June as pressures from the bond market relaxed a bit.

U.S. shares were set to trade mixed with Dow futures slipping less than 0.1% to 34,510.00, while S&P 500 futures gained 0.6% to 4,475.25.Japan's benchmark Nikkei 225 gained 0.9% to finish at 32,287.21. Australia's S&P/ASX 200 added 0.5% to 7,182.10. The hope among traders has been that the Fed has already hiked rates for the final time this cycle and that it will begin cutting rates early next year. But such hopes have been diminishing with each stronger-than-expected report on the economy that’s come in recently.

Stock prices that benefit from easier interest rates got some relief as the 10-year Treasury yield eased back further from its highest level since 2007 after a report suggested the U.S. economy may be cooling.

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