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Stock market today: Asian shares rebound following latest tumble on Wall Street. Oil prices gain $1

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Asian shares have advanced after the latest tumble on Wall Street. U.S. futures gained and oil prices were $1 higher. On Thursday, stocks tumbled after big-name companies warned that an uncertain global economy may hurt their profits. The S&P 500 lost 1.2% touched its lowest level in five months and is nearly 10% below its high mark for the year.

A currency trader walks by the screens showing the Korea Composite Stock Price Index at a foreign exchange dealing room in Seoul, South Korea, Friday, Oct. 27, 2023. Asian shares advanced Friday after the latest tumble on Wall Street, where the S&P 500 fell to its lowest level in five months. A currency trader walks by the screens showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S.

Tokyo core consumer inflation, which excludes volatile fresh food prices, rose 2.7% in October, the Statistics Bureau reported Friday. As a leading indicator of nationwide trends, it suggests a broader trend of rising prices.Coke raises full-year sales forecast after stronger-than-expected 3rd quarter

Wall Street retreated Thursday, dropping nearly 10% below its high mark for the year, after big-name companies warned an uncertain global economy may hurt their profits. Higher interest rates could mean eventual weakness for the economy and corporate profits. And high bond yields make investors less willing to pay high prices for stocks and other investments.as they catch up with the main interest rate controlled by the Federal Reserve, which is at its highest level since 2001.

 

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