U.S. Stocks Near Record Highs, Japan's Nikkei Jumps

Asian stock markets displayed mixed results today, with Japans Nikkei index surging by 1.7% on hopes of a U.S. interest rate cut. Meanwhile, the Bank of Japans potential rate hike added uncertainty. U.S. stocks, including the S&P 500, climbed earlier this week, driven by mixed economic data and strong performance from tech companies like Microchip Technology and Marvell Technology. The positive sentiment was fueled by easing Treasury yields and expectations of a Federal Reserve interest rate cut next week. The U.S. services sector also reported stronger growth and slower inflation, further supporting the case for a rate cut. In other news, U.S. benchmark crude oil increased slightly, while the U.S. dollar strengthened against the Japanese yen and weakened against the euro.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.