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Stock market today: Rate hopes push Asian shares higher while oil prices edge lower

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BANGKOK (AP) — Asian shares have climbed after Wall Street advanced on potentially encouraging news about interest rates, which have been dragging markets...

BANGKOK — Asian shares have climbed after Wall Street advanced on potentially encouraging news about interest rates, which have been dragging markets lower since the summer.

suggested interest rates might remain steady at their next policy meeting because a jump in longer-term bond yields may be helping to cool inflation without further market-rattling hikes by the Fed. Monday’s rise in crude helped oil and gas stocks to some of Wall Street's biggest gains. Marathon Oil rose 6.6% and Halliburton climbed 6.8%.

Reports this week on inflation at both the consumer and wholesale levels are the next big data points due before the Fed makes its next announcement on interest rates on Nov. 1.

 

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