2% in the first few minutes of trading Thursday and seems to be on track for a fourth straight day of quiet trading. The Dow was little changed, and the Nasdaq composite was up 0.2%. The Walt Disney Co. rose more than 5% after becoming the latest big company to report stronger profit for the latest quarter than analysts expected. Treasury yields were slighlty higher, and crude oil prices recovered some of the sharp losses they took this week.
Cereal maker WK Kellogg and The Walt Disney Co. each climbed more than 4% in off-hours trading after reporting bigger profits than expected for the most recent quarter. Golf equipment maker Topgolf Callaway skidded 21.7% after it missed sales targets and lowered its forecast. Elsewhere, in Europe at midday Germany's DAX and Britain's FTSE each edged 0.5% higher, while the CAC 40 in Paris advanced 0.8%.
“What China has right now, is a low rate of underlying inflation, which reflects the fact that domestic demand is fairly weak,” Robert Carnell of ING Economics said in a report. “If you want to use any term, ‘disinflation’ would be my preference, but what we are seeing today is mainly the result of a supply excess, rather than a collapse in demand,” he said.
South Korea's Kospi added 0.2% to 2,427.08, while in Australia, the S&P/ASX 200 gained 0.3% to 7,014.90. In Bangkok, the SET lost 0.5%.A swift rise in the 10-year yield beginning in the summer dragged the S&P 500 down by more than 10% from its peak for the year. The 10-year yield briefly topped 5% to reach its highest level since 2007, as it tracked the Federal Reserve’s main interest rate, which is above 5.25% and at its highest level since 2001.
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