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Stock market today: Asian shares gain despite Wall Street's tech-led retreat

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Asian shares advanced on Thursday even after sinking technology stocks sent Wall Street lower in the S&P 500's worse losing streak since the start of the...

Asian shares advanced on Thursday even after sinking technology stocks sent Wall Street lower in the S&P 500's worse losing streak since the start of the year.Tokyo's Nikkei 225 climbed 0.3% to 38,079.70 and the Hang Seng in Hong Kong gained 1.3% to 16,468.07.South Korea's Kospi led the region's gains, surging 2.2% to 2,642.02.On Wednesday, the S&P 500 lost 0.6%, to 5,022.21. It's down 4.4% since setting a record late last month.

High interest rates hurt prices for investments and increase the risk of a recession, but Fed officials are concerned after a string of reports this year has shownTraders are now mostly expecting just one or two cuts to interest rates from the Federal Reserve this year, according to data from CME Group. That’s down from forecasts for

On the winning side of Wall Street was Omnicom Group. It rose 1.6% after reporting stronger profit for the latest quarter than analysts expected. The marketing and communications company highlighted growth trends in most markets around the world, outside the Middle East and Africa. Jerry Dean McLain first bet on former president Donald Trump’s Truth Social two years ago, buying into the Trump company’s planned merger partner, Digital World Acquisition, at $90 a share. Over time, as the price changed, he kept buying, amassing hundreds of shares for $25,000 - pretty much his “whole nest egg,” he said.

 

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