Stock market today (May 15, 2024): Asian markets follow Wall Street higher ahead of US key inflation update

  • 📰 BusinessMirror
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 59%

United States News News

United States United States Latest News,United States United States Headlines

Asian stocks were mostly higher on Wednesday after a rally on Wall Street that took the Nasdaq composite index to a record high.

at the wholesale level in the United States, before many price changes are passed along to consumers, with the producer price index reading for April reaching 0.5%, higher than forecast.

A bigger test for markets comes later Wednesday, when the U.S. will release its monthly update on consumer prices, or inflation faced by households. Economists expect the consumer price index to ease to 3.4% in April on a year-over-year basis. In China, the Shanghai Composite index slipped 0.4% to 3,133.47 after the central bank kept a key lending rate unchanged Wednesday, signaling Beijing’s focus on maintaining monetary stability.Markets in South Korea and Hong Kong were closed for a holiday.

The Nasdaq composite, which is heavily influenced by technology stocks, jumped 0.8% to 16,511.18. The tech sector has been a driving force for much of the broader market’s gains this year. including GameStop and AMC Entertainment, raced higher in a reprise of the social-media driven frenzy of three years ago. GameStop jumped 60.1% and AMC rose 32%. Both stocks gave back much of their gains from earlier in the day.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 19. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today (May 13, 2024): Asian stocks drift after Wall Street closes another winning weekHONG KONG — Asian stocks were mostly lower on Monday after Wall Street coasted to the close of another winning week. U.S. futures were mixed and oil prices fell. The release of weak Chinese lending data and news that the U.S.
Source: BusinessMirror - 🏆 19. / 59 Read more »

Stock market today (April 23, 2024): Asian stocks track Wall Street gains ahead of earnings reportsHONG KONG — Asian benchmarks extended gains Tuesday after U.S. stocks clawed back a chunk of their losses from last week, which was the worst for the S&P 500 in more than a year, while the yen weakened further to fresh 34-year lows. U.S.
Source: BusinessMirror - 🏆 19. / 59 Read more »

Stock market today (May 7, 2024): Wall Street rises to add to last week’s gainsU.S. stocks rose Monday and added to their gains from last week, as technology companies once again led the way. The S&P 500 rose 52.95, or 1%, to 5,180.74. The Dow Jones Industrial Average added 176.59, or 0.5%, to 38,852.27, and the Nasdaq composite jumped 192.92, or 1.2%, to 16,349.25.
Source: BusinessMirror - 🏆 19. / 59 Read more »

Stock market today (May 3, 2024): Wall Street climbs to trim its loss for the weekNEW YORK — U.S. stocks climbed Thursday to trim the majority of their losses for the week. The S&P 500 rose 45.81 points, or 0.9%, to 5,064.20 a day after swinging sharply when the Federal Reserve said it's likely delaying cuts to interest rates but not planning to hike them.
Source: BusinessMirror - 🏆 19. / 59 Read more »

Stock market today (April 25, 2024): Asian benchmarks mostly slide as investors focus on earnings📈🌏 Stock markets in Asia saw declines as investors eagerly anticipate global earnings updates, particularly from tech giants dubbed the 'Magnificent Seven.' The Bank of Japan's monetary policy meeting is also in focus. Will the strong earnings season restore market confidence? Know more about the market trends and upcoming reports.
Source: BusinessMirror - 🏆 19. / 59 Read more »