Stock market today: Asian stocks slip, while Australian index tracks Wall St rally to hit record

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Asian stocks are mostly lower even as investors wager that the Federal Reserve will come ahead with a cut to interest rates, while Australia's benchmark hit a new record. U.S. futures fell and oil prices were little changed. The S&P 500 climbed 0.6% Tuesday to top its all-time high set last week. The Dow Jones Industrial Average leaped 1.

A currency trader talks on the phone near the screen showing the Korea Composite Stock Price Index at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, July 17, 2024. Currency traders work near the screen showing the Korea Composite Stock Price Index , top center, and the foreign exchange rate between U.S.

Australia’s S&P/ASX 200 advanced 0.7% to 8,057.90 after hitting an all-time high of 8,083.70 during morning trading. South Korea’s Kospi shed 0.8% to 2,843.29. Elsewhere, Taiwan’s Taiex declined 1%, with Taiwan Semiconductor Manufacturing Company’s stock falling 2.4%. The SET in Bangkok was up 0.2%. The Dow Jones Industrial Average leaped 1.9% to 40,954.48, and the Nasdaq composite lagged with a gain of 0.2% to 18,509.34, as the stars dimmed for some of the year’s biggest winners.In the bond market, some of the prior day’s moves also reversed themselves. Longer-term yields sank more than shorter-term yields after a report showedThe yield on the 10-year Treasury dropped to 4.16% from 4.23% late Monday. It’s fallen from 4.

 

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