Current:Home > reviewsStock market today: With US markets closed, Asian shares slip and European shares gain -StockSource
Stock market today: With US markets closed, Asian shares slip and European shares gain
View
Date:2025-04-13 05:16:15
BANGKOK (AP) — Asian shares were mostly lower on Friday after solid gains in Europe overnight, while U.S. markets were closed for the July 4th holiday.
Japan’s benchmark Nikkei 225 topped 41,000 early Friday but then fell back from Thursday’s record close of 40,913.65. U.S. futures edged higher and oil prices fell.
The U.S. government will give its comprehensive update about how many workers employers added to their payrolls during June. Traders are watching such numbers closely in hopes that they will show the economy is slowing enough to prove that inflation is under control, but not so much that it will tip into recession.
That would raise the likelihood of the Federal Reserve cutting interest rates that it has been keeping at two-decade highs, which would alleviate pressure on the economy by making borrowing less costly.
The jobs report is expected to show that employers added 190,000 jobs — a solid gain, though down from a robust 272,000 in May.
“The upcoming June jobs report will play a crucial role in shaping expectations for near-term Federal Reserve rate cuts. Markets currently anticipate a reasonable chance of two rate cuts this year, contrasting with the Fed’s median forecast of just one reduction in 2024,” Anderson Alves of Activ Trades said in a commentary.
In Asian trading early Friday, the Nikkei 225 edged 0.2% lower to 40,843.90 after the government reported higher prices dented consumer sentiment more than expected in May, with household spending falling 1.8%.
Chinese markets were markedly weaker, with Hong Kong’s Hang Seng down 1.1% at 17,823.67 and the Shanghai Composite index giving up 0.9% to 2,929.98. The Shanghai benchmark has been trading near its lowest levels since February.
The Kospi in Seoul jumped 1.3% to 2,860.26 after Samsung Electronics forecast that its operating profit in the second quarter will balloon more than 15 times from a year earlier to 10.4 trillion won ($7.52 billion).
Like Nvidia, Taiwan’s TSMC, Tokyo Electron and other computer chip makers, Samsung is benefiting from a rebound in the semiconductor industry as applications using artificial intelligence take off.
Elsewhere in the region, Australia’s S&P/ASX 200 slipped 0.2% to 7,820.20. Taiwan’s Taiex edged 0.1% higher and the SET in Bangkok was up 0.2%.
With U.S. markets closed on Thursday, attention was focused on Britain, where the future for the FTSE 100 was up 0.2% early Friday as an exit poll and partial returns indicated Britain’s Labour Party was headed for a landslide victory in a parliamentary election.
Britain has experienced a run of turbulent years during Conservative rule that left many voters pessimistic about their country’s future. The U.K.’s exit from the European Union followed by the COVID-19 pandemic and Russia’s invasion of Ukraine battered the economy. Rising poverty and cuts to state services have led to gripes about “Broken Britain.”
The British pound rose to $1.2773 from $1.2760 late Thursday. The euro rose to $1.0821 from $1.0812.
On Thursday, the FTSE 100 advanced 0.9% to 8,241.26 and Germany’s DAX rose 0.4% to 18,450.48. In Paris, the CAC 40 gained 0.8% to 7,695.78.
During a holiday shortened trading session Wednesday on Wall Street, the S&P 500 rose 0.5% and set an all-time high for the 33rd time this year. The Dow Jones Industrial Average slipped 0.1%, and the Nasdaq composite rose 0.9% to push its own record higher.
In other dealings Friday, U.S. benchmark crude oil lost 17 cents to $83.71 per barrel in electronic trading on the New York Mercantile Exchange.
Brent crude, the international standard, declined 32 cents to $87.11 per barrel.
veryGood! (7378)
Related
- Trump invites nearly all federal workers to quit now, get paid through September
- 'Ambitious' plan to reopen channel under collapsed Baltimore bridge by May's end announced
- Missing 1923 Actor Cole Brings Plenty Found Dead in Woods at 27
- Farmworker who survived mass shooting at Northern California mushroom farm sues company and owner
- Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
- Kristin Lyerly, Wisconsin doctor who sued to keep abortion legal in state, enters congressional race
- Michael J. Fox Reveals His One Condition for Returning to Hollywood
- Hyper-sexual zombie cicadas that are infected with sexually transmitted fungus expected to emerge this year
- Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
- At least 11 Minneapolis officers disciplined amid unrest after George Floyd’s murder, reports show
Ranking
- Trump suggestion that Egypt, Jordan absorb Palestinians from Gaza draws rejections, confusion
- Biden visits site of Baltimore bridge collapse
- Hunting for your first home? Here are the best U.S. cities for first-time buyers.
- Nickelodeon 'Double Dare' host Marc Summers says 'Quiet on Set' producers blindsided him
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- Apple's App Store, Apple TV, other online services go down Wednesday
- New Mexico electric vehicle mandates to remain in place as auto dealers fight the new rules
- WWE women's division has a big WrestleMania 40, but its 'best is yet to come'
Recommendation
Most popular books of the week: See what topped USA TODAY's bestselling books list
RFK Jr. campaign disavows its email calling Jan. 6 defendants activists
This week on Sunday Morning (April 7)
More than 500 New Yorkers set to be considered as jurors in Trump's hush money trial
Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
$1.23 billion lottery jackpot is Powerball's 4th largest ever: When is the next drawing?
Wintry conditions put spring on hold in California
Colt Ford 'in stable but critical condition' after suffering heart attack post-performance