Stock market today: World shares mostly advance after Wall St comeback from worst loss since 2022

A currency trader passes by the screen showing the Korea Composite Stock Price Index , top center left, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, July 26, 2024. – World shares were mostly higher on Friday after Wall Street made a patchy comeback from its worst loss since 2022, with mostGermany's DAX edged 0.2% higher to 18,326.36 and the CAC 40 was up 0.8% at 7,487.88. In London, the FTSE advanced 0.9% to 8,257.80.

Tokyo's core consumer price index rose 2.2% in July, rising for the third straight month to its highest level in four months, adding to expectations that the Bank of Japan may raise its near-zero benchmark interest rate at a policy meeting next week. It was catching up with the retreat on Wall Street on Wednesday, which was the S&P 500's worst plunge since 2022. Taiwan Semiconductor Manufacturing Corp. plunged 5.6%, tracking continued declines in Big Tech companies.On Thursday, the S&P 500 lost 0.5% following its slide from the day before. The Dow added 0.2%, while the Nasdaq composite sank 0.9%.

An update is due later Friday about the Federal Reserve’s preferred measure of inflation, but since price increases haveto begin cutting its main interest rate from the highest level in more than two decades. Following Thursday’s report, traders still saw a 100% probability that the Fed will begin doing so in September, according to data from CME Group.

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