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Stock market today: Wall Street rises after solid jobs data keeps hope alive for a coming rate cut


Published on 2024-12-06 19:58:19 - ABC
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  • HONG KONG -- Asian stocks were mixed Friday after Wall Street retreated from record highs as investors awaited a U.S. jobs report due later in the day. U.S. futures were lower and oil prices were little changed.

The article from ABC News discusses the mixed performance of Asian stock markets following a decline on Wall Street, influenced by concerns over potential U.S. interest rate hikes. Key points include: Japan's Nikkei 225 slightly rose by 0.1%, Australia's S&P/ASX 200 fell by 0.2%, and South Korea's Kospi saw a minor increase of 0.1%. In contrast, Hong Kong's Hang Seng index dropped by 1.4%, while the Shanghai Composite edged up by 0.1%. The market movements were driven by fears that the Federal Reserve might maintain higher interest rates for an extended period to combat inflation, as suggested by recent U.S. economic data showing persistent high inflation rates. Additionally, the article mentions that U.S. stock indexes like the S&P 500, Dow Jones Industrial Average, and Nasdaq all experienced declines, with specific sectors like technology and energy seeing significant drops due to various corporate earnings reports and economic indicators.

Read the Full ABC Article at:
[ https://abcnews.go.com/Business/wireStory/stock-market-today-asian-stocks-mixed-after-wall-116514816 ]