Stock market today: Asian shares surge after Wall St gains on signs the US jobs market is cooling

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Stock market today: Asian shares surge after Wall St gains on signs the US jobs market is cooling
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Stocks are higher in Asia after Wall Street was boosted by a report that signaled the U.S. jobs market, while still healthy, is showing some signs of cooling.

Hong Kong’s Hang Seng index jumped 2.4% to 18,828.91 while the Shanghai Composite index added 1% to 3,166.62. Tokyo’s Nikkei 225 was up 0.6% at 32,899.99.Shares also rose in Taiwan and Southeast Asia.Friday on Wall Street, the S&P 500 finished 0.2% to 4,515.77. The Dow Jones Industrial Average rose 0.3% to 34,837.71. The Nasdaq composite closed less than 0.1% lower, at 14,031.81, breaking a five-day winning streak.

. But they also make the central bank’s task of taming inflation more difficult by fueling wage and price increases. But recent economic snapshots have bolstered the view on Wall Street that the Fed may hold rates steady at its next policy meeting in September. Bond yields were mostly rose Friday. The yield on the 2-year Treasury, which tracks expectations for the Fed, got as high as 4.91% at one point, but fell to 4.88% by late afternoon. It was at 4.87% late Thursday. The yield on the 10-year Treasury, which influences interest rates on mortgages and other consumer loans, rose to 4.17% from 4.11%.

 

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