Stock market today: Wall Street hangs near records after Chinese stocks soar

NEW YORK — U.S. stocks are hanging near their records after Chinese stocks soared following a slew of moves by the Chinese central bank to prop up the world’s second-largest economy. The S&P 500 added 0.1% in early Tuesday trading, a day after setting a record for the 40th time this year. The Dow Jones Industrial Average rose 17 points and was likewise coming off a record. The Nasdaq composite gained 0.4%. Treasury yields rose ahead of a report on U.S. consumer confidence.

It feels less need to keep rates high in order to slow the economy enough to stifle inflation, hence last week’s cut of half a percentage point to its main interest rate. And it feels more pressure to prop up the job market and overall economy, hence its plans to keep cutting interest rates this year and next.

Visa slid more than 2% after media reports that the credit card issuer was going to be sued by the U.S. Department of Justice for penalizing customers who use other payment processors. The central bank also will reduce interest rates on its loans to commercial banks and cut the down payment requirement on purchases of second homes to 15% from 25%.

Tokyo's Nikkei 225 index climbed 0.6% to 37,940.59, while the Kospi in Seoul jumped 1.1% to 2,631.68. In the bond market, the yield on the 10-year Treasury rose to 3.79%, up from 3.75% late Monday. The yield on the two-year Treasury, which moves more with expectations for Fed action, edged up to 3.60% from 3.59% late Friday.

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.

Stock market today: Wall Street leaps toward records as jubilation sweeps markets worldwideNEW YORK (AP) — Wall Street is roaring toward records Thursday as a delayed reaction of jubilation sweeps markets worldwide following the Federal Reserve’s big cut to interest rates. The S&P 500 was 1.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street extends losses as technology and energy stocks fallStocks lost more ground on Wall Street Wednesday, led by declines in the technology and energy sectors. The S&P 500 fell 0.2% Wednesday, following a 2.1% drop a day earlier. The Nasdaq composite dropped 0.3%.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street wavers a day after setting record highsU.S. stocks are drifting in early trading after leaping to records the day before as part of a worldwide rally. The S&P 500 was down 0.2% Friday but still on track for its fifth winning week in the last six.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street wavers in morning trading following worst day in a monthNEW YORK (AP) — Stocks are wavering in morning trading on Wall Street Wednesday, a day after the market’s worst performance in a month. The S&P 500 is mostly unchanged following a 2.1% drop a day earlier.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street drifts in mixed trading ahead of Fed meeting this weekNEW YORK (AP) — U.S. stocks are drifting in mixed trading, offering a break from their whipsaw moves in recent weeks. The S&P 500 slipped 0.1% early Monday. The Dow Jones Industrial Average was up 255 points, or 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Asian shares echo Wall Street rally as investors gauge inflation dataTOKYO (AP) — Asian shares were trading mostly higher Tuesday after a rally on Wall Street that regained some of the losses from the market’s worst week in...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »