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Stock market today: Asian shares fall after Wall Street pulls back from its records

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Stocks And Bonds,Earnings,General News

Asian shares outside of China are lower in cautious trading ahead of earnings reports both in the region and overseas, after Wall Street's long, record-breaking rally ran out of steam. Benchmarks fell in Tokyo, Seoul and Sydney, while rising slightly in Hong Kong and Shanghai. The yen weakened against the U.S. dollar and oil prices edged lower.

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On Wall Street, the S&P 500 slipped 0.2% to 5,853.98, coming off a sixth straight winning week, its longest such streak of the year. The Dow Jones Industrial Average dropped 0.8% from its own record that was likewise set on Friday, to 42,931.60. The Nasdaq composite rose 0.3% to 18,540.00. That puts pressure on companies to deliver growth in profits to justify their stock prices, and more than 100 companies in the S&P 500 are scheduled to give details this week about their performances during the summer. That includes such heavyweights as AT&T, Coca-Cola, IBM, General Motors and Tesla.Boeing is reporting its latest results on Wednesday. It rose 3.1% after reaching an agreement with the union representing its striking machinists on a.

 

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