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Stock market today: Asian shares track Wall St's advance fueled by cooler jobs data

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Asian shares were mostly higher on Monday after Wall Street ended last week with the stock market's best day in over two months in a rally backed by the...

Asian shares were mostly higher on Monday after Wall Street ended last week with the stock market's best day in over two months in a rally backed by the cooler-than-expected U.S. employment data.The Japanese yen weakened slightly after its value swung from a low of 160.25 to the U.S. dollar to 151.86 late last week following suspected government intervention. The dollar bought 153.93 yen, up from 152.90 yen.

The Dow Jones Industrial Average rose 1.2% to 38,675.68. The Nasdaq composite ended 2% higher and closed at 16,156.33, reflecting strong gains by technology sector stocks, which accounted for much of the rally. Amgen climbed 11.8% after the biotechnology company gave investors an encouraging update on a potential obesity drug. Live Nation Entertainment added 7.2% after the ticket seller and concert promoter beat analysts’ first-quarter revenue forecasts.

In energy trading, benchmark U.S. crude rose 23 cents to $78.34 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, climbed 18 cents to $83.14 a barrel.Berkshire Hathaway has sold its entire stake in Paramount Global losing “quite a bit of money,” Berkshire CEO Warren Buffett said at the company’s annual meeting on Saturday.

 

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