BEIJING — Asian stock markets followed Wall Street higher early Friday after a Federal Reserve official raised hopes the U.S. central bank might not step up its anti-inflation fight as much as feared.Equities on Wall Street rose Wednesday for the first time in three... BEIJING — Asian stock markets followed Wall Street higher early Friday after a Federal Reserve official raised hopes the U.S. central bank might not step up its anti-inflation fight as much as feared.
China is beginning its annual legislative session, where leaders are expected to affirm policies meant to spur growth after a long slowdown worsened by COVID-19. The Dow Jones Industrial Average DJIA added 1% to 33,003.57. The Nasdaq Composite COMP gained 83.50, or 0.7%, to 11,462.98. The yield on the 10-year Treasury TY00 TMUBMUSD10Y , or the difference between its market price and payout at maturity, widened to 4.06% from 4.00% late Wednesday and from less than 3.40% earlier this year. It is near its highest level in four months.Investors also are cutting expectations of U.S. corporate profits due to warnings inflation and interest rates might cool consumer demand.
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