People walk past an electronic stock board showing Japan's Nikkei 225 index at a securities firm Thursday, Dec. 8, 2022, in Tokyo. Shares are mostly lower in Asia after Wall Street sagged under weakness in tech stocks. Stocks rose in midday trading on Wall Street Thursday, but remain lower for the week after five straight losses.&P 500 rose 0.8% as of 11:54 a.m. Eastern. The Dow Jones Industrial Average rose 215 points, or 0.6%, to 33,812 and the Nasdaq rose 1.2%.
U.S. crude oil prices edged 0.7% higher after bouncing around earlier in the day. They hit their lowest point of the year a day earlier. Low unemployment is good for the broader economy but makes it more difficult for the Federal Reserve to tame inflation. The central bank has been raising interest rates to curb borrowing and spending in order to cool the hottest inflation in decades. Its benchmark interest rate sits at 3.75% to 4%, the highest in 15 years.
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