Stock market today: Asian shares rise after eased pressure on bonds pushes Wall Street higher

Currency traders work near the screen showing the Korea Composite Stock Price Index , center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Oct. 11, 2023. Shares are higher in Asia, tracking Wall Street gains following an easing of pressure from the bond market. A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Oct. 11, 2023.

Investors have taken heart amid signs that upward pressure on inflation in many economies may be easing, which would enable the Federal Reserve and other central banks to halt or reverse aggressive interest rate hikes meant to curb rising prices. Treasury yields had jumped last week to their highest levels in more than a decade, following the lead of the Fed’s main interest rate, which is at heights unseen since 2001. They’ve been the main reason for the stock market’s stumbles since the summer, as worries rise that the Fed will keep its federal funds rate at a high level for longer than Wall Street hopes.

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Stock market today: Rate hopes push Asian shares higher while oil prices edge lowerAsian shares are higher after Wall Street advanced on potentially encouraging news about interest rates, which have been dragging markets lower since the summer. U.S. futures slipped and oil prices also fell back slightly after surging following Israel's declaration of war on Hamas following its attack from the Gaza Strip. On Monday, the S&P 500 and the Dow rose 0.6%. The Nasdaq composite added 0.4%. Stocks of oil producers and defense companies led the market. Markets were buoyed by comments by
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