The S&P 500 plunged and interest rates jumped on Wednesday after consumer prices rose more than expected in January, raising concerns that inflation could return. The broad market index slipped 0.27% to end at 6,051.97, and the Dow Jones Industrial Average dropped 225.09 points, or 0.5%, to 44,368.56. The Nasdaq Composite gained a modest 0.03% to close at 19,649.95. "The higher-than-expected CPI confirms investor concerns about inflation being too high that will keep the Fed on the sidelines," said Sameer Samana, head of global equities and real assets at Wells Fargo Investment...
Japanese stocks rose in early trading as a weaker yen boosted earnings growth hopes. Autos and pharma shares led the gains. Subaru Corp. rose 2.8% and Daiichi Sankyo gained 4.9%. USD/JPY was at 154.24, up from 153.64 at the close of the Tokyo Stock Exchange on Wednesday.Meanwhile, SoftBank Group fell 4.6% after posting a third-quarter net loss. Investors are focused on earnings as well as U.S. trade policy. Daiwa House Industry and Sumitomo Forestry are due to release their results later in the day. The Nikkei Stock Average was up 0.5% at 39,172.02.Source: Bloomberg
Asia-Pacific markets opened higher Thursday, breaking ranks with Wall Street that fell overnight as a stronger-than-expected U.S. inflation reading diminished prospects of policy easing by the U.S. Federal Reserve. Australia's S&P/ASX 200 rose 0.2%. Japan's Nikkei 225 rose 0.54% while the Topix climbed 0.52%. South Korea's Kospi traded 0.34% higher, while the small-cap Kosdaq rose 0.45%. Hong Kong's Hang Seng index futures were at 22,072, also higher than the HSI's last close of 21,857.92. Overnight in the U.S., the S&P 500 tumbled and bond yields spiked after consumer prices...