Stock market today: Global stocks trade mixed after Wall Street logs modest gains

FILE - A person stands in front of an electronic stock board showing Japan's Nikkei index at a securities firm in Tokyo, on May 28, 2024. Asian shares traded mixed Wednesday, June 5, 2024, as investors weighed recent data highlighting a slowing U.S. economy that offers both upsides and downsides for Wall Street. – Global shares traded mixed Wednesday, as investors weighed recent data highlighting a slowing U.S. economy that offers both upsides and downsides for Wall Street.

Australia's economy grew 0.1% in the first quarter, according to data released Wednesday, which some analysts said was weaker than expected. Cash income for Japanese workers rose 2.1% in May, more than forecast, and analysts said recent data on wage growth in Japan will turn more pronounced once results of the recent spring labor negotiations kick in. That means the Bank of Japan may be more likely to raise interests rates.

In energy trading, benchmark U.S. crude rose 24 cents to $73.49 a barrel. Brent crude, the international standard, added 26 cents to $77.78 a barrel.

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