FILE - The New York Stock Exchange is shown on May 28, 2024, in New York. Asian shares are higher on Friday, May 31, 2024, as investors shrug off yet another decline on Wall Street. Currency traders work near the screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, June 3, 2024.
Friday’s report from the U.S. government also showed growth in consumer spending weakened by more than economists expected. Growth in incomes for Americans also slowed last month. The yield on the 10-year Treasury fell to 4.50% Friday from 4.55% late Thursday. It had topped 4.60% earlier in the week amid worries about tepid demand following some auctions for Treasurys, a move that had hurt stocks.
Nvidia fell for a second straight day, losing 0.8%, as its momentum finally slows after soaring more than 20% since itson felony charges Thursday. The company, which runs the Truth Social platform, had warned earlier in filings with U.S. securities regulators about potential impact from a conviction.
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Stock market today: Asian shares shrug off latest Wall St rout as Chinese factory activity weakens.Asian shares were higher on Friday as investors shrugged off yet another decline on Wall Street, while an official survey showed a weakening in Chinese
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Stock market today: Asian shares shrug off latest Wall St rout as Chinese factory activity weakens.Asian shares are higher as investors shrug off yet another decline on Wall Street. An official survey showed a weakening in Chinese factory activity, but benchmarks in Hong Kong and Shanghai were higher. Taiwan's Taiex fell 0.9%. On Thursday, the S&P 500 fell 0.6%, even though the majority of stocks within it and across Wall Street rose.
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Stock market today: Asian shares track Wall Street's retreatShares have retreated in Asia after U.S. stocks fell under the weight of higher yields in the bond market. U.S. futures sank and oil prices fell back. On Wednesday, the S&P 500 dropped 0.7% and the Dow Jones Industrial Average lost 1.1%. The Nasdaq composite fell 0.6% after setting its latest all-time high.
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