Stock market today: Asian stocks mixed as traders await Fed conference for interest rate update

  • 📰 ksatnews
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 53%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Asian stocks are mixed as traders look ahead to the Federal Reserve’s summer conference for signs of whether the U.S. central bank thinks inflation is under control or more interest rate hikes are needed to cool inflation.

People stand in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Monday, Aug. 21, 2023, in Tokyo. Asian stocks were mixed Monday as traders looked ahead to the Federal Reserves summer conference for signs of whether the U.S. central bank thinks inflation is under control or more interest rate hikes are needed to cool inflation.

The Shanghai Composite Index lost 0.3% to 3,122.67 while the Nikkei 225 in Tokyo advanced 0.6% to 31,626.56. The Hang Seng in Hong Kong lost 1.1% to 17,760.29.New Zealand, Singapore and Bangkok retreated while Singapore gained. The S&P 500 soared in the first seven months of 2023 but has given back more than one-quarter of those gains after critics warned the market embraced the notion too early that inflation was under control and rate hikes were finished.

Data indicating U.S. consumer spending and hiring are unexpectedly strong have fueled expectations the Fed might feel pressure to keep its benchmark lending rate higher for longer.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 442. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Now’s the time to own dividend-paying stocks. These 5 offer up to a 9% yield.Over the long run, 40% of stock-market gains come from dividends.
Source: MarketWatch - 🏆 3. / 97 Read more »