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Stock market today: Asian shares mostly rise as investors look to earnings and inflation signs

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Inflation News

Financial Markets,Earnings,General News

Asian shares are mostly higher as investors looked ahead to earnings reports from top global companies and a consumer prices report that will be a gauge for U.S. inflation. Benchmarks rose in Monday morning trading in Tokyo, Seoul, Sydney, Hong Kong and Shanghai.

A currency trader passes by the screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won, right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, April 8, 2024. A currency trader works near the screen showing the Korea Composite Stock Price Index , top left, and the foreign exchange rate between U.S.

The Dow Jones Industrial Average rose 0.8% and the Nasdaq composite gained 1.2%. Technology companies accounted for a big share of the rally.Another month of robust US job growth points to continued economic strengthadded a surprisingly strong 303,000 workers to their payrolls in March, the government reported Friday. The strong job market has helped fuel consumer spending and earnings growth for businesses, amounting to strong economic growth overall.

Strong employment and consumer spending have raised concerns about getting inflation below 3% and heading toward the Fed’s target rate of 2% won’t be easy.

 

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