Stock market today: Asian shares advance ahead of U.S. inflation report

TOKYO — Asian shares gained Friday as traders looked ahead to a key report on inflation that could influence the Federal Reserve's next move on interest rates.

On Thursday, the S&P 500 eked out a 0.1% gain. The benchmark index has been hovering near the all-time high it set last week.The Nasdaq composite rose 0.3% and remains just below its all-time high. The Dow Jones Industrial Average closed 0.1% higher. Jeans maker Levi Strauss sank 15.4% after its latest quarterly revenue results fell short of analysts' expectations, along with its current earnings forecast for the year.

A slowdown in consumer spending could help further ease inflation, but too much of a slowdown could result in a more painful hit to the economy. The Federal Reserve is trying to time its efforts tame inflation back to its 2% target without slowing the economy so much that it slips into a recession. In currency trading, the U.S. dollar rose to 161.00 Japanese yen from 160.72 yen. The euro cost $1.0693, down from $1.0709.If you're tired of coming across the same dividend stocks over and again, here's one analysts love that provides a high yield and a cheap share price. The post 9.4% Dividend Yield! Why I’m Buying This Stock and Holding it for All Time appeared first on The Motley Fool Canada.

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