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☆ 10-year Treasury yield edges higher as investors await economic data, Fed speeches
▼ + stars: | 2024-12-03 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

The 10-year Treasury yield rose 2 basis points to 4.215% at 4:50 a.m. ET while the yield on the 2-year Treasury dipped 1 basis point to trade at 4.186%. The benchmark U.S. 10-year Treasury yield edged higher on Tuesday as investors await data that will offer insights about the strength of the U.S. economy. On the data front, market participants will monitor the Labor Department's Job Openings and Labor Turnover Survey for October on Tuesday morning. ET, will provide estimates for the number of job openings, hires, layoffs and quits.

Persons: Adriana Kugler, Austan Goolsbee, Dow Jones, That's, Lisa Kailai Han, Sawdah Bhaimiya Organizations: Treasury, Labor, Survey, Investors, Chicago Fed Locations: U.S

☆ Britain’s 'mini-budget' disaster should serve as a warning to the U.S., bond strategists say
▼ + stars: | 2024-11-21 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

Bloomberg | Bloomberg | Getty ImagesFears are mounting that the U.S. could soon experience its own version of Britain's "mini-budget" crisis, with bond strategists warning that Donald Trump's return to the White House brings with it the specter of currency volatility and surging bond yields. The former president's economic agenda has ratcheted up concerns about a surge in consumer prices, which strategists say could spark significant shifts in bond yields and investor behavior. They warn a scenario that mirrors Britain's mini-budget crisis of 2022 is not out of the question. watch nowBritain's mini-budget crisis refers to a tumultuous period under former Prime Minister Liz Truss and ex-Finance Minister Kwasi Kwarteng. Bond yields tend to rise when market participants expect higher consumer prices or a growing budget deficit.

Persons: Donald Trump, Donald Trump's, Trump, Remtulla, Liz Truss, Kwasi Kwarteng, Kwarteng, Althea Spinozzi, Trump's, Spinozzi, Angela Weiss, Paul Ashworth, Ashworth, Thierry Wizman, likelier, Wizman Organizations: Economic, of New, Bloomberg, Getty, EFG, CNBC, U.S ., Finance, U.S, Bank of England, Saxo Bank, White, Treasury, Traders, New York Stock Exchange, AFP, Capital Economics, Macquarie Group Locations: of New York, New York, U.S, Foreign, Treasurys, Treasuries, New York City, America

☆ What Trump's return to the White House could mean for global bond yields
▼ + stars: | 2024-11-20 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Bloomberg | Bloomberg | Getty ImagesDonald Trump's U.S. election victory has ratcheted up concerns about higher prices, prompting strategists to rethink the outlook for global bond yields and currencies. Trump's return to the White House is seen as likely to throw a wrench in the Federal Reserve's rate-cutting cycle, potentially keeping an upward bias on Treasury yields. Bond yields tend to rise when market participants expect higher prices or a growing budget deficit. "Trump's election advances both possibilities as a trade war and increased fiscal spending work at cross purposes," he added. Germany's 10-year bond yield, the benchmark for the euro zone, stood at 2.337% on Wednesday, marginally lower for the session.

Persons: Donald Trump, Donald Trump's, Alim Remtulla, Remtulla, Kamala Harris, there's, Trump, There's, Shannon Kirwin, Kirwin, Sameer Goel, CNBC's, doesn't, Goel, MUFG Organizations: Bloomberg, Getty, EFG, Fed, CNBC, Treasury, Democratic, New York Stock Exchange, China News Service, Morningstar, European Union, Deutsche Bank, Trump, U.S, U.S ., Singapore, Malaysian, South Korean, ING Locations: Greensboro , North Carolina, Europe, United States, New York City, U.S, Mexico, Asia, China

☆ Election next week holds big implications for stock market, especially the control of Congress
▼ + stars: | 2024-11-01 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

But the true implications for investors monitoring the election may lie in which party controls Congress, rather than who will sit in the White House. .SPX YTD mountain S & P 500 The importance of whichever party controls Congress was highlighted by Trump's recent trips outside battleground states such as New Mexico , a state that hasn't voted for a GOP presidential nominee in roughly 20 years. On the other hand, Evercore ISI's Emanuel expects a Harris victory, with a Democratic sweep of Congress, could result in the S & P 500 falling to roughly 5,700. The S & P 500 slid 1%, while the Nasdaq dipped 0.5%. Earnings season continues with about 100 S & P 500 companies confirmed to report.

Persons: Donald Trump, Kamala Harris, Trump, Nanette Abuhoff Jacobson, I'm, Abuhoff Jacobson, hasn't, Brian Burrell, Jay Hatfield, Harris, Hatfield, Evercore ISI's Julian Emanuel, Evercore ISI's Emanuel, Jerome Powell's, Ralph Lauren, Warner, Alex Harring Organizations: NBC, Congress, House, Democratic, Republican, Hartford Investments, GOP, Thornburg Investment Management, Infrastructure Capital Advisors, Senate, Wednesday, Regional Banking, Treasury, Federal Reserve, Dow Jones, Nasdaq, National, Marriott International, Diamondback Energy, Wynn Resorts, Palantir Technologies, NXP Semiconductors, PMI, PMI Services, Services PMI, Petroleum, Brands, Technology, Computer, CVS, Howmet Aerospace, Gilead Sciences, Labor, Consumer, Moderna, Molson Coors Beverage, Halliburton, Hershey Co, Warner Bros, Expedia, Akamai Technologies, Paramount Locations: New Mexico, Albuquerque, Santa Fe , New Mexico, Hartford, Albemarle, Qualcomm, Michigan

☆ Never mind the 60/40 portfolio. There may be a case for a 50/30/20 allocation
▼ + stars: | 2024-10-30 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The case for a 50/30/20 portfolio is growing as investors seek to diversify into alternatives as a hedge against a stock and bond market that are each flashing cautionary signals. "And so, let me allocate a little bit, because instead of a 60/40, perhaps it's a [50/30/20]," she said, clarifying 50% to stocks, 30% to bonds, and the remaining 20% to alternatives. The case for alternatives The case for alternatives is two-fold. Still, investors say that the the asset class can help hedge against real risks ahead of stocks and bonds. One ETF investing in private equity asset managers is the Invesco Global Listed Private Equity ETF (PSP) .

Persons: Ayako Yoshioka, you've, Goldman Sachs, David Kostin, Corporates, Yoshioka, Paul Tudor Jones, Mark Malek, it's, —, Jesse Pound Organizations: Investors, Bank of America, Treasury, U.S, State Street, Apollo Global Management, Blackstone, Ares Management, KKR, Co, Carlyle Group, Equity ETF Locations: U.S, Siebert

☆ U.S. crude oil gains 1% to trade above $68 after worst day in two years
▼ + stars: | 2024-10-29 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil rose more than 1% on Tuesday, one day after posting the worst daily loss in two years. Energy traders were relieved Monday after Israel's long-anticipated retaliatory strikes on Iran last Friday spared the Islamic Republic's oil and nuclear facilities. The benchmark U.S. crude oil contract sold off more than 6%, or $4.40, to $67.38 per barrel. Here are Tuesday's energy prices:Goldman Sachs expects the price of Brent to recover to $77 per barrel in the fourth quarter even without any oil supply disruptions in the Middle East. Demand is soft in China, U.S. production is robust and OPEC+ has plans to bring crude back to the market in December.

Persons: Goldman Sachs, Daan Struyven, CNBC's, Struyven, Brent Organizations: Energy, U.S . Strategic Petroleum Reserve Locations: Iran, U.S, China

☆ How the stock market is likely to react to the election outcome
▼ + stars: | 2024-10-29 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The SPDR S & P Regional Banking ETF (KRE) has jumped nearly 5% since the fourth quarter began on Oct. 1, while the S & P 500 is ahead a little more than 1%. In the event of a Trump win but with a divided Congress, the S & P 500 is likely to remain flat in the days following the election, Emanuel wrote. Evercore ISI expects the S & P 500 falling in the 10 days after the election, to roughly 5,700, as markets re-price their expectations. 3Fourteen Research co-founder Pies expects a Harris win would translate into a drop in cyclical and small-cap stocks, and spur investors to turn to high-quality tech names. However, a Harris win, with a split Congress, is an outcome that could spur a drop in the S & P 500 immediately after the election, down to about 5,525, according to Evercore ISI.

Persons: Stocks, Donald Trump, Kamala Harris, Mike Mullaney, Trump, Harris, Julian Emanuel, Warren, CNBC's, Emanuel, Evercore, Jeff Schulze, Evercore ISI's Emanuel Organizations: U.S, Nasdaq, NBC, Boston Partners, Treasury, Trump, Republican, Regional Banking, Evercore ISI, 3Fourteen Research, Democratic, ClearBridge Investments, ISI

☆ Dollar steady at August high on U.S. rates view, election
▼ + stars: | 2024-10-22 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar clung to a two-and-half-month high on Tuesday on expectations the Federal Reserve will take a measured approach to interest rate cuts, while a close battle in the upcoming U.S. election kept investors on edge. The U.S. dollar clung to a two-and-half-month high on Tuesday on expectations the Federal Reserve will take a measured approach to interest rate cuts, while a close battle in the upcoming U.S. election kept investors on edge. Four Federal Reserve policymakers expressed support on Monday for further rate cuts, but appeared to differ on how fast or far they believe any cuts should go. With the U.S. election just two weeks away, the rising odds of former President Donald Trump winning the Nov. 5 election are boosting the dollar, since his proposed tariff and tax policies are seen as likely to keep U.S. interest rates high. The yen on Tuesday was at 150.57 per dollar, hovering close to the two-and-half-month low of 150.88.

Persons: Goldman Sachs, Donald Trump, Harris, Komeito Organizations: U.S, Reserve, Fed ., Federal, Traders, Fed, Trump, PineBridge Investments, Liberal Democratic Party Locations: U.S, Treasuries

☆ Gold eases as dollar firms; focus on Fed cues, U.S. data
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: +2 min

Spot gold was down 0.2% to $2,639.45 per ounce, as of 0303 GMT. U.S. gold futures lost 0.3% to $2,658.70. The dollar index hovered near a seven-week high, making bullion more expensive for holders of other currencies, while the benchmark U.S. Treasury 10-year yield topped 4% for the first time in more than two months. Investors are focused on the minutes of the Fed's latest policy meeting, due on Wednesday, followed by the U.S. Consumer Price Index on Thursday and the Producer Price Index data on Friday. "Looking ahead, if we see any upside surprises in the U.S. CPI numbers this week, this could boost further boost the dollar and pressure gold," Waterer added.

Persons: Gold, Tim Waterer, Israel, Bullion, Waterer, Louis, Alberto Musalem Organizations: Treasury, KCM Trade, U.S . Consumer, U.S, CPI, Louis Fed Locations: Singapore, Haifa, Lebanon, Gaza, St

☆ Asia-Pacific markets open higher after volatile week; India inflation and industrial data in focus
▼ + stars: | 2024-08-12 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets opened higher on Monday after a roller-coaster week that saw steep sell-offs followed by a sharp recovery, especially in Japan stocks. Futures for benchmark U.S. indexes were lower as investors awaited key inflation data due later this week. Major Wall Street averages rose Friday, with the indexes making a sharp recovery from last week's volatile market rout. In Asia, traders on Monday will assess inflation and industrial output data from India. Meanwhile, India's industrial output for June is expected to come in at 5.5%, slightly down from 5.9% in May.

Persons: Dow Organizations: Nasdaq, Reuters Locations: Ahmedabad, India, Asia, Pacific, Japan

☆ Gold at near 2-week high as soft U.S. data lifts Fed rate-cut bets
▼ + stars: | 2024-07-03 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were flat on Wednesday as investors awaited minutes of the Federal Reserve's last policy meeting for fresh cues on when the U.S. central bank will start cutting interest rates. Gold prices rose more than 1% to a near two-week high on Wednesday, driven by increased bets for a September interest rate cut by the Federal Reserve after recent U.S. data suggested that the labor market was softening. "Bulls are trying to get ahead of what many believe will finally be a weak payrolls report on Friday," he added. [USD/The market now sees a 68% chance of the Fed cutting interest rates in September as well as another cut in December. Elsewhere, spot silver rose 3.4% to $30.52 per ounce, platinum gained 1.8% to $1,008.50 and palladium climbed 2.7% to $1,049.

Persons: Tai Wong Organizations: Federal Reserve, Bulls Locations: U.S, New York

☆ Japanese yen weakens to fresh 38-year lows; top currency diplomat replaced
▼ + stars: | 2024-06-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Sopa Images | Lightrocket | Getty ImagesThe Japanese yen weakened to fresh 38-year lows on Friday, crossing the 161 mark against the dollar for the first time since 1986 and reaching a high of 161.27, according to LSEG data. The yen has been steadily deprecating since the Bank of Japan ended its negative interest rate policy and scrapped its yield curve control policy in March. Following the move, the currency crossed the 150 mark against the dollar, reaching 160 in late April before the country's finance ministry intervened. Stock Chart Icon Stock chart iconJapan's finance ministry confirmed that it intervened between April 26 to May 29 to the tune of 9.7885 trillion yen ($62.25 billion). The benchmark U.S. federal funds rate stands at 5.25% to 5.5%, while the Bank of Japan's benchmark interest rate is at 0%-0.1%.

Persons: Dong Chen, Dong Organizations: Currency Museum, Bank of Japan's Institute for Monetary, Economic Studies, Bank of Japan, Japan Ministry of Finance, U.S, Bank Locations: Asia, Swiss, Japan

☆ Gold holds steady after biggest sell-off in 3-1/2 years
▼ + stars: | 2024-06-10 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices held steady on Monday after a sharp sell-off in the previous session on stronger-than-expected U.S. jobs data, with investors awaiting the Federal Reserve policy meeting this week for further direction. The jobs report led traders to once again shift their expectations of when the Fed will cut rates and by how much. The dollar hit a more than one-week high against its rivals, while the benchmark U.S. 10-year Treasury yields scaled its highest since June 3. Spot silver rose 0.9% to $29.43 per ounce, platinum was up 0.8% at $971.10 and palladium gained 1.1% to $922.38.

Persons: Kelvin Wong, Jerome Powell, Wong Organizations: Co, Reserve, Asia Pacific Locations: Bangkok, Thailand, China, OANDA

☆ Gold gains as U.S. dollar, yields slip; focus on jobs data
▼ + stars: | 2024-06-06 | by ( ) www.cnbc.com time to read: +1 min

Gold firmed on Thursday as the dollar and Treasury yields retreated on rising bets that U.S interest rate cuts may start as early as September, while investors awaited the U.S. non-farm payrolls data. Gold firmed on Thursday as the dollar and Treasury yields retreated on rising bets that U.S interest rate cuts may start as early as September, while investors awaited the U.S. non-farm payrolls data. Spot gold was up 0.8% at $2,373.31 per ounce as of 0258 GMT, after rising 1% in the previous session. The dollar index was down 0.2%, hovering around a near two-month low, and benchmark U.S. 10-year Treasury yields lingered near their weakest levels in more than two months. "The fundamental outlook still looks constructive for gold as we move closer towards possible Fed rate cuts in the second half of the year.

Persons: Tim Waterer Organizations: Treasury, ., U.S ., KCM, U.S, Federal

☆ Gold prices drop as strong U.S. dollar, yields dim bullion's shine
▼ + stars: | 2024-05-30 | by ( ) www.cnbc.com time to read: +2 min

An employee puts gold bullions into a safe deposit box at Degussa shop in Singapore. Gold prices slipped for a second consecutive session on Thursday as the U.S. dollar and Treasury yields edged higher ahead of key inflation data, which could offer further clarity on the Federal Reserve's interest rate plan. "I think it's a case of investors realizing that the current high interest rate environment is likely to have an extended stay. And with the focus again turning to chasing U.S. yields and dollar, some attention is taken away from gold this week," said Tim Waterer, chief market analyst at KCM Trade. While bullion is considered an inflation hedge, higher rates increase the opportunity cost of holding the non-yielding asset.

Persons: Tim Waterer, Bullion, Waterer Organizations: U.S ., KCM, Traders, Global, BHP Group Locations: Singapore, ., U.S

☆ Gold subdued as U.S. dollar, yields firm; traders await inflation data
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: +2 min

An employee holds one kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices edged lower on Wednesday as the U.S. dollar and Treasury yields held firm ahead of key inflation data, which could offer more clarity on the Federal Reserve's interest rate trajectory. The dollar firmed 0.1%, making gold less attractive for other currency holders, while benchmark U.S. 10-year bond yields rose to multi-week peaks. "Investors will try to position themselves in gold because overall long-term fundamentals are looking pretty strong for gold at the moment." While gold is used as a hedge against inflation, rate hikes raise the opportunity cost of holding non-yielding bullion.

Persons: Soni Kumari, Tim Waterer Organizations: Co, U.S ., Treasury, ANZ, KCM, Traders, BHP, Monetary Fund Locations: Bangkok, Thailand, U.S, China

☆ Dollar steady ahead of inflation data, yen wobbles
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: +7 min

The dollar was stable on Wednesday on wagers the Federal Reserve is unlikely to cut rates until later this year ahead of crucial inflation readings this week, while the yen drifted to its weakest in four weeks. Market focus this week will be on a slew of inflation reports, with German inflation data due on Wednesday and the wider euro zone's reading on Friday. Market focus this week will be on a slew of inflation reports, with German inflation data due on Wednesday and the wider euro zone's reading on Friday. The pound was 0.13% higher at 200.68 yen, the strongest since August 2008, while the euro touched a one-month high of 170.795 yen earlier in the session. The yen, which is sensitive to Treasury yields, is down 10% for the year against the dollar but may yet scrape a monthly gain in May.

Persons: Sterling, Christopher Wong, Prashant Newnaha Organizations: U.S, Australian, FX, TD Securities Locations: U.S, Tokyo, Asia

☆ CNBC Daily Open: Wall Street hits record highs as rate cut bets rise on soft inflation data
▼ + stars: | 2024-05-16 | by ( Abid Ali | ) www.cnbc.com time to read: +2 min

A trader works during the closing bell at the New York Stock Exchange (NYSE) on March 17, 2020 at Wall Street in New York City. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wall Street hits record highThe S&P 500 and the Nasdaq rose to record highs after inflation data came in lower than expected. The Dow Jones Industrial Average jumped 350 points as investors bet the Federal Reserve may cut rates in September. Inflation easesApril's consumer price index rose 0.3%, slightly less than expected, while on a 12-month basis, inflation increased 3.4% in line with economists' forecasts.

Persons: JPMorgan Chase Jamie Dimon, Dimon, Anton Peraire, James Peraire, Biden, Morgan Stanley Organizations: New York Stock Exchange, Wall, CNBC, Nasdaq, Dow Jones Industrial, Federal, Tech, Nvidia, Apple, Microsoft, JPMorgan, Sky News, U.S . Treasury Department, GameStop, AMC, Justice, MIT, U.S Locations: New York City, America, cryptocurrency, China

☆ CNBC Daily Open: Wall Street hits record, 'Thee rate cuts'
▼ + stars: | 2024-05-16 | by ( Abid Ali | ) www.cnbc.com time to read: +2 min

The Charging Bull is seen on an empty Wall Street on April 20, 2020 in New York City. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wall Street hits record highThe S&P 500 and the Nasdaq rose to record highs after inflation data came in lower than expected. All three major indexes closed at record highs. Asia up, Japan's GDP shrinksAsia-Pacific markets rose on Thursday after Wall Street hit record highs.

Persons: Buffett, Chubb, Warren, Berkshire Hathaway, Seng, Biden, Morgan Stanley Organizations: CNBC, Nasdaq, Dow Jones Industrial, Federal, Tech, Nvidia, Apple, Microsoft, GameStop, AMC, Berkshire, Wall, Nikkei, U.S Locations: New York City, Zurich, Asia, Pacific, China

☆ Gold hovers below record peak as U.S. dollar, yields firm after upbeat data
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: +2 min

Gold prices on Tuesday hovered below record highs hit in the previous session, as the U.S. dollar and Treasury yields held firm after strong U.S. data flagged doubts on whether the Federal Reserve would deliver three interest rate cuts this year. Spot gold was unchanged at $2,250.79 per ounce, as of 0415 GMT, holding below an all-time high of $2,265.49 hit on Monday. "Gold notched up a new record price, though with that high watermark also came some overbought conditions, which has resulted in a mild pullback. Traders pared bets of a June interest rate cut to 63% after the data, according to the CME Group's FedWatch Tool. Gold tends to gain when interest rates are cut as it reduces the opportunity cost of holding bullion.

Persons: Tim Waterer, Jerome Powell, Waterer Organizations: U.S ., Treasury, Federal Reserve, KCM Trade, U.S Locations: .

TOKYO (AP) — Asian shares were trading mixed on Monday, as investors awaited further indications the Federal Reserve might begin cutting interest rates. A top Japanese finance official expressed reservations about the recent surge in the U.S. dollar against the Japanese yen, fueling speculation about possible intervention in the market. Despite the BOJ’s decision to hike rates, cautious communication failed to stimulate demand for the Japanese yen,” said Luca Santos, currency analyst ACY Securities. The yield on the 10-year Treasury fell to 4.21% from 4.27% late Thursday. The U.S. Federal Reserve has indicated it may deliver three cuts to interest rates this year, as long as inflation keeps cooling.

Persons: Seng, Korea's Kospi, ”, Luca Santos, Brent Organizations: TOKYO, Reserve, Nikkei, Shanghai, U.S ., U.S, of, of Japan, ACY Securities, Dow Jones, Nasdaq, Treasury, U.S . Federal Locations: of Japan, Japan, U.S

TOKYO (AP) — Global shares are mixed Thursday in lackluster trading. U.S. shares were set to drift higher with Dow futures up nearly 0.3% at 39,632.00. Nissan Motor Co. stock jumped 2.2% after an unconfirmed Japanese media report that the automaker behind the Leaf electric car was about to enter an agreement on EVs with domestic rival Honda Motor Co. Honda shares rose 1.1%. Photos You Should See View All 60 ImagesThe Japanese central bank has set a target of 2% inflation. That higher inflation has in turn dashed Wall Street’s hopes that the Federal Reserve could start offering relief at its meeting next week by cutting interest rates.

Persons: Germany's DAX, Sydney's, Hang Seng, ”, Anderson Alves, Brent Organizations: TOKYO, —, CAC, Dow, Nikkei, Nissan Motor Co, Honda Motor Co, Honda, Nissan, Bank of Japan, Bank of, Federal Reserve, Fed, U.S Locations: Hong, Shanghai, ActivTrades, Bank of Japan

TOKYO (AP) — Asian shares mostly rose Wednesday, encouraged by a record rally on Wall Street that was led by technology companies. Speculation is rife that Japan's central bank is getting ready to end its super-easy monetary policy, which has set interest rates below zero, and start raising rates. Photos You Should See View All 60 ImagesOn Wall Street, the S&P 500 jumped 1.1% to top its all-time high set last week. The worse-than-expected data kept the door closed for long-sought cuts to interest rates at the Federal Reserve meeting next week. On Wall Street, big technology stocks did heavy lifting.

Persons: Australia's, Korea's Kospi, ”, Tim Waterer, Brian Jacobsen, Chris Larkin, Morgan Stanley, ” Larkin, “, Dow, Brent Organizations: TOKYO, Nikkei, Bank of, KCM, U.S, Dow Jones, Nasdaq, Federal Reserve, Annex Wealth Management, Fed, Treasury, Oracle, Nvidia Locations: Hong, Shanghai, Wall

TOKYO (AP) — Asian shares were trading mixed Thursday, after Wall Street recovered some losses from the day before. Japan's benchmark Nikkei 225 momentarily reached a record high in early trading but slipped later to finish at 39,598.71, down 1.2%. “The positive handover from Wall Street, alongside lower Treasury yields and a weaker U.S. dollar, may offer some relief as Fed Chair’s testimony failed to drive much hawkish deviation from his usual script,” said Yeap Jun Rong, market analyst at IG. As always, Wall Street scrutinized each of Powell's words for hints about when the Federal Reserve could begin cutting its main interest rate, which is at its highest level since 2001. “We want to see a little more data so we can become more confident.”Traders have already shelved earlier expectations for a cut in March, and they’re now eyeing June as the likeliest beginning.

Persons: Australia's, ”, Yeap Jun Rong, Jerome Powell, CrowdStrike, Steven Mnuchin, Donald Trump, Powell, ” Powell, Rubeela Farooqi, Locker, Brent, Stan Choe Organizations: TOKYO, Wall, Nikkei, IG, Federal, Dow Jones, Nasdaq, Nvidia, Big Tech, New York Community Bancorp, U.S, Treasury, Federal Reserve, Fed, Traders, AP Locations: Hong, Shanghai

TOKYO (AP) — Shares declined Wednesday in Asia after disappointingly high U.S. inflation data sent stocks sliding on Wall Street and raised prospects that interest rates will remain elevated for longer. Hong Kong’s Hang Seng index resumed trading after the Lunar New Year holiday, edging 0.7% higher to 15,861.77 after opening lower. High interest rates hurt all kinds of investments, and they tend to particularly hurt high-growth stocks like technology companies. Stocks of smaller companies fell even more because high rates could hurt them more than bigger rivals by making it more difficult to borrow cash. Yields jumped in the bond market as traders built up expectations for the Fed to keep rates high for longer.

Persons: Australia's, Korea's Kospi, Sensex, Tuesday’s, Russell, Alexandra Wilson, Elizondo, Carl Icahn Organizations: TOKYO, —, Nikkei, Federal Reserve, Labor Department, Dow Jones, Nasdaq, Microsoft, Fed, Treasury, Goldman, Goldman Sachs Asset Management, Wall, JetBlue Airways, New York Mercantile Exchange, Brent, U.S Locations: Asia, Indonesia, Southeast, China, Bangkok, Goldman Sachs

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