• About
  • Advertise
  • Contact
  • Careers
Monday, October 2, 2023
WTMJ
  • Home
  • News
    • Local
    • National
    • Crime
    • Featured Stories
    • Decision Wisconsin
      • Countdown to the RNC
    • Guest Editorials
  • Weather
    • Closings and Delays
    • Flight Status
    • Interactive Radar
    • Watches and Warnings
  • Traffic
    • Construction Updates
  • Sports
    • Extra Points
    • Milwaukee Brewers
      • Brewers All Access Podcast
    • Milwaukee Bucks
      • Bucks In 6:00
      • Bucks Talk
      • Bucks Weekly: The Podcast
    • Green Bay Packers
      • Green & Gold Insiders Podcast
    • NCAA
  • Shows
    • Wisconsin’s Morning News
    • WTMJ N.O.W.
      • German Grandeur with Steve Scaffidi & Fox World Travel
      • The Beatles & More! An England Adventure with Sandy Maxx and Journeys Connect
      • What’s On Tap?
    • Jeff Wagner
    • Wisconsin’s Afternoon News
      • Football Food Picks with Chef Adam
      • Spectacular Scandinavia with John Mercure and Collette
    • WTMJ Nights
    • Wisconsin’s Weekend Morning News
    • WTMJ Conversations
    • Reporter’s Notebook
    • Featured Shows
      • Accunet Mortgage & Realty Show
      • Creative Planning presents, Rethink Your Money with John Hagensen
      • Drake & Associates Retirement Ready Show
      • Every Day Health
      • Fix It Show
      • Hired! The GKB Recruitment Show
      • Money Talk, The Annex Wealth Management Show
  • Podcasts
    • Wisconsin’s Morning News Podcast
    • WTMJ N.O.W. Podcast
    • Jeff Wagner Podcast
    • Wisconsin’s Afternoon News Podcast
    • WTMJ Nights Podcast
    • Wisconsin’s Weekend Morning News Podcast
    • Decision Wisconsin: Countdown to the RNC Podcast
    • Brewers All Access Podcast
    • Milwaukee Bucks
      • Bucks In 6:00
      • Bucks Weekly: The Podcast
      • Bucks Talk: The Podcast
    • The Steve Scaffidi Show
    • WTMJ Conversations 2023: The Podcast
    • The Truth on WTMJ: The Podcast
    • Green Bay Packers
      • Green & Gold Insiders Podcast
    • WTMJ Conversations Podcast
    • Featured Show Podcasts
      • Experience Wisconsin Podcast
      • The Fix-It Show Podcast
      • Money Talk, The Annex Wealth Management Show Podcast
      • The Accunet Mortgage and Realty Show Podcast
      • Drake & Associates Retirement Ready Podcast
      • The Fox World Travel Show Podcast
      • Creative Planning presents, Rethink Your Money with John Hagensen
  • Features
    • Wagner’s Home Improvement Showcase
    • Travel Wisconsin
    • German Grandeur with Steve Scaffidi & Fox World Travel
    • Spotlight on New York City Holiday with John Mercure and Collette
    • Annex Wealth Management Webinar
    • Every Day Health
    • Experience Wisconsin
    • 5Q
    • Sunday Sip
  • Contests
LISTEN LIVE
WATCH LIVE
No Result
View All Result
WTMJ
  • Home
  • News
    • Local
    • National
    • Crime
    • Featured Stories
    • Decision Wisconsin
      • Countdown to the RNC
    • Guest Editorials
  • Weather
    • Closings and Delays
    • Flight Status
    • Interactive Radar
    • Watches and Warnings
  • Traffic
    • Construction Updates
  • Sports
    • Extra Points
    • Milwaukee Brewers
      • Brewers All Access Podcast
    • Milwaukee Bucks
      • Bucks In 6:00
      • Bucks Talk
      • Bucks Weekly: The Podcast
    • Green Bay Packers
      • Green & Gold Insiders Podcast
    • NCAA
  • Shows
    • Wisconsin’s Morning News
    • WTMJ N.O.W.
      • German Grandeur with Steve Scaffidi & Fox World Travel
      • The Beatles & More! An England Adventure with Sandy Maxx and Journeys Connect
      • What’s On Tap?
    • Jeff Wagner
    • Wisconsin’s Afternoon News
      • Football Food Picks with Chef Adam
      • Spectacular Scandinavia with John Mercure and Collette
    • WTMJ Nights
    • Wisconsin’s Weekend Morning News
    • WTMJ Conversations
    • Reporter’s Notebook
    • Featured Shows
      • Accunet Mortgage & Realty Show
      • Creative Planning presents, Rethink Your Money with John Hagensen
      • Drake & Associates Retirement Ready Show
      • Every Day Health
      • Fix It Show
      • Hired! The GKB Recruitment Show
      • Money Talk, The Annex Wealth Management Show
  • Podcasts
    • Wisconsin’s Morning News Podcast
    • WTMJ N.O.W. Podcast
    • Jeff Wagner Podcast
    • Wisconsin’s Afternoon News Podcast
    • WTMJ Nights Podcast
    • Wisconsin’s Weekend Morning News Podcast
    • Decision Wisconsin: Countdown to the RNC Podcast
    • Brewers All Access Podcast
    • Milwaukee Bucks
      • Bucks In 6:00
      • Bucks Weekly: The Podcast
      • Bucks Talk: The Podcast
    • The Steve Scaffidi Show
    • WTMJ Conversations 2023: The Podcast
    • The Truth on WTMJ: The Podcast
    • Green Bay Packers
      • Green & Gold Insiders Podcast
    • WTMJ Conversations Podcast
    • Featured Show Podcasts
      • Experience Wisconsin Podcast
      • The Fix-It Show Podcast
      • Money Talk, The Annex Wealth Management Show Podcast
      • The Accunet Mortgage and Realty Show Podcast
      • Drake & Associates Retirement Ready Podcast
      • The Fox World Travel Show Podcast
      • Creative Planning presents, Rethink Your Money with John Hagensen
  • Features
    • Wagner’s Home Improvement Showcase
    • Travel Wisconsin
    • German Grandeur with Steve Scaffidi & Fox World Travel
    • Spotlight on New York City Holiday with John Mercure and Collette
    • Annex Wealth Management Webinar
    • Every Day Health
    • Experience Wisconsin
    • 5Q
    • Sunday Sip
  • Contests
LISTEN LIVE
No Result
View All Result
WTMJ
No Result
View All Result

Asian shares mostly higher, echoing Wall Street rebound

AP News by AP News
August 15, 2022
in AP National, AP News, National
Share on FacebookShare on TwitterEmail

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares mostly rose Tuesday after a rebound on Wall Street, despite regional investor risks reflected in negative economic data out of China.

The benchmark in Tokyo was little changed, erasing earlier gains, but indexes in South Korea, Australia and China gained in morning trading.

Falling oil prices are one positive factor for the region. In Japan, recent economic data have shown a recovery, but high rates of COVID-19 are fueling fears people will hold back on travel and other economic activity.

Some analysts say stock prices haven’t properly reflected real risks.

“It doesn’t seem to matter what the news is, there is just a huge appetite to buy stocks. And to keep buying,” said Clifford Bennett, chief economist at ACY Securities.

“Talk of the bottom having already been priced in seems somewhat premature. Should the market turn down again after all this long positioning, it will fall with a thunderous impact. Buyers beware.”

Japan’s benchmark Nikkei 225 was little changed at 28,870.04 in morning trading. South Korea’s Kospi rose 0.5% to 2,540.41. Australia’s S&P/ASX 200 added 0.6% to 7,107.50. Hong Kong’s Hang Seng added 0.4% to 20,118.35, while the Shanghai Composite gained 0.4% to 3,287.50.

Stocks on Wall Street bounced back and closed higher, extending the market’s recent winning ways as investors look ahead to several updates from retailers this week.

The S&P 500 rose 16.99 points, or 0.4%, to 4,297.14. The Dow added 151.39 points, or 0.5%, to 33,912.44. The Nasdaq gained 80.87 points, or 0.6%, to 13,128.05. The Russell 2000 rose 4.73 points, or 0.2%, to 2,021.35.

The market got off to a bumpy start as traders reacted to news overnight that China’s central bank cut a key interest rate, acknowledging more needed to be done to shore up its economy. The move is the latest warning for markets already on edge over record-high inflation and fears about recessions in the U.S. and elsewhere.

China is the world’s second-largest consumer of crude oil, so the news weighed on energy prices. U.S. crude oil prices slumped 2.9% on worries about the global economy and weighed heavily on energy stocks.

In Tuesday’s trading, benchmark U.S. crude fell 57 cents to $88.84 a barrel. Brent crude, the international standard, lost 86 cents to $94.24.

Treasury yields fell as a report showed manufacturing in New York state unexpectedly contracted. The yield on the 10-year Treasury, which banks use to set mortgage rates, fell to 2.79% from 2.83% late Friday.

Still, all but two of the 11 sectors in the S&P 500 closed higher. Technology stocks, retailers and other companies that rely on direct consumer spending accounted for a big share of the gains.

Moderna rose 3.3% after British regulators authorized an updated version of its COVID-19 vaccine.

The market’s choppy start to the week follows four straight weeks of gains for the benchmark S&P 500 on hopes that inflation is peaking and that the Federal Reserve could ease up on its aggressive interest rate hikes. The central bank has been raising short-term interest rates to help slow economic growth and cool the hottest inflation in 40 years.

Wall Street is worried that the Fed could hit the brakes too hard and send the economy into a recession, and any signal that inflation could be peaking or retreating has helped ease some of those worries.

Investors are also keeping a close watch on how inflation is affecting businesses and consumers. Spending has slowed and the broader economy has already contracted for two straight quarters. Several big retailers will give investors more detail on how their businesses are holding up when they report earnings this week.

Home Depot and Walmart report their results on Tuesday and Target’s results are due on Wednesday. The Commerce Department also releases its July retail sales report on Wednesday. Economists surveyed by FactSet expect modest 0.2% growth from June, when sales rose 1%.

In currency trading, the U.S. dollar edged up to 133.40 Japanese yen from 133.27 yen. The euro cost $1.0167, little changed from $1.0165.

___

Yuri Kageyama is on Twitter https://twitter.com/yurikageyama

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Previous Post

Illegal border crossings fall in July but remain high

Next Post

UN envoy travels to strife-torn Myanmar for the first time

AP News

AP News

Stay Connected

  • 22.3k Followers
  • 1k Follower
  • 1.4k Subscribers

Most Popular

Extra Points: A marvelous start for Horst & Co.

EXCLUSIVE: 1-on-1 with Bucks head coach Adrian Griffin on coaching philosophy, Dame/Giannis duo & more

October 2, 2023
EXCLUSIVE: Giannis Antetokounmpo confirms he’s “committed to the City of Milwaukee” during game of Uno

EXCLUSIVE: Giannis Antetokounmpo confirms he’s “committed to the City of Milwaukee” during game of Uno

October 2, 2023
A micro-scale city built by Paul Wellington

Newest season of LEGO Masters features Milwaukee master builders

October 2, 2023
Milwaukee County community leaders break ground on new Coggs Center building site

Milwaukee County community leaders break ground on new Coggs Center building site

October 2, 2023
The Brewers line-up will look different than the last time the team played the D-Backs

The Brewers line-up will look different than the last time the team played the D-Backs

October 2, 2023
WTMJ

For more than 90 years, WTMJ-AM has been "Wisconsin's Radio Station".

Follow Us

Home

News

Weather

Traffic

Sports

Shows

Podcasts

Features

Careers

Contests

Recent News

Bucks Weekly: Dame Time!

Bucks Weekly: Dame Time!

October 2, 2023
Brewers beat the Cubs 4-0 in game 162

Brew October Series Premiere

October 2, 2023
  • Careers
  • Contact
  • EEO PUBLIC FILE REPORT
  • FCC Public File
  • FCC Applications
  • Terms of Use
  • Privacy Policy

© 2022 Good Karma Brands, LLC.

  • LISTEN LIVE
  • Home
  • News
    • News
    • Local News
    • Coronavirus
    • Decision Wisconsin
  • Weather
    • Weather
    • Watches and Warnings
    • Closings and Delays
    • Flight Status
  • Traffic
  • Construction Updates
  • Sports
    • Sports
    • Green Bay Packers
    • Milwaukee Brewers
    • Milwaukee Bucks
  • Shows
    • Shows
    • Wisconsin’s Morning News
    • Steve Scaffidi
    • Jeff Wagner
    • Wisconsin’s Afternoon News
      • Spectacular Scandinavia with John Mercure and Collette
    • WTMJ Nights
    • WTMJ Conversations
    • Featured Shows
  • Podcasts
  • Features
    • Features
    • Good Karma Give Back
    • WTMJ Roundtable
  • Contests
  • Alexa
No Result
View All Result

© 2022 Good Karma Brands, LLC.