Stock market today: World shares track Wall Street rally, Tokyo’s benchmark at 33-year high

Jun 15, 2023, 11:24 PM | Updated: Jun 16, 2023, 4:56 am

BANGKOK (AP) — Shares advanced in Europe and Asia on Friday after a broad-based rally on Wall Street.

U.S. futures were little changed and oil prices wobbled lower after gaining more than 3% on Thursday.

Germany’s DAX added 0.2% to 16,328.40 and the CAC 40 in Paris surged 0.6% to 7,337.98. Britain’s FTSE 100 was up 0.2% at 7,642.77.

The future for the S&P 500 gained 0.2% while that for the Dow Jones Industrial Average edged less than 0.1% higher.

Tokyo’s Nikkei 225 index closed at a 33-year high after the Bank of Japan wrapped up a policy meeting by keeping its ultra-lax monetary stance unchanged, as expected. It is a standout among central banks, most of which have sought to rein in inflation by raising interest rates.

The key Japanese rate has stayed at minus 0.1% for a decade and policymakers have indicated they are not convinced that current inflation, which finally has surpassed the BOJ’s target of about 2%, will be sustained.

“With extremely high uncertainties surrounding economies and financial markets at home and abroad, the Bank will patiently continue with monetary easing while nimbly responding to developments in economic activity and prices as well as financial conditions,” the BOJ said in a statement.

Share prices in Japan have been trading around their highest level in more than 30 years, while the Japanese yen has weakened against the dollar and other major currencies — reflecting the gap in interest rates in Japan and elsewhere.

The Nikkei gained 0.7% to 33,706.08, while the dollar rose to 141.00 yen from 140.29 yen late Thursday.

Investors also were encouraged by moves in Beijing to support the faltering recovery from the disruptions of the pandemic with more government spending and a slight easing of credit.

“It seems China’s policymakers have had enough and are unwilling to sit idle and watch consumer sentiment crumble,” Stephen Innes of SPI Asset Management said in a commentary. “The leadership is planning major steps to revive the country’s flagging economy, including the possibility of billions of dollars in new infrastructure spending and looser rules to encourage property investors to buy more homes.”

Hong Kong’s Hang Seng index jumped 1.1% to 20,040.37. The Shanghai Composite index was up 0.6% at 3,273.33.

In Seoul, the Kospi advanced 0.7% to 2,625.79. Bangkok’s SET shed 0.3% and India’s Sensex jumped 0.8%.

Australia’s S&P/ASX 200 gained 1.1% to 7,251.20.

On Thursday, the S&P 500 rallied 1.2% to 4,425.84, it’s highest level since April 2022. The Dow gained 1.3% and the Nasdaq climbed 1.2%.

A report showed sales at U.S. retailers unexpectedly strengthened last month, suggesting spending by consumers is holding up despite higher interest rates on credit cards and other borrowing. Economists were forecasting a drop.

A separate report said slightly more workers applied for unemployment benefits last week than expected. That’s still relatively low, but could signal the job market is finally starting to loosen after the Fed’s barrage of rate hikes since early last year.

The market is still absorbing caused severe pain in some areas of the economy.

The U.S. stock market has leaped nearly 24% since hitting a bottom last October, as the economy has so far avoided a recession and inflation has fallen from its peak last summer.

Traders expect the Fed’s to raise rates again at its next meeting, on July 25-26 but are mostly convinced that will be the last increase of the year, according to data from CME Group.

In other trading Friday, U.S. benchmark crude oil gave up 34 cents to $70.28 per barrel in electronic trading on the New York Mercantile Exchange. It surged $2.35 on Thursday to $70.62 per barrel.

Brent crude, the international standard, fell 28 cents to $75.39 per barrel.

The euro fell to $1.0945 from $1.0946.


Associated Press

Ukraine targets a key Crimean city a day after striking Russia’s Black Sea Fleet headquarters

KYIV, Ukraine (AP) — Ukraine on Saturday morning launched another missile attack on Sevastopol on the occupied Crimean Peninsula, a Russian-installed official said, a day after an attack on the headquarters of Russia’s Black Sea Fleet that left a serviceman missing and the main building smoldering. Sevastopol was put under an air raid alert for […]

13 hours ago

Associated Press

Niger’s junta accuses United Nations chief of blocking its participation at General Assembly

ABUJA, Nigeria (AP) — The military government that seized power in Niger has accused United Nations Secretary-General Antonio Guterres of “obstructing” the West African nation’s full participation at the U.N.’s annual meeting of world leaders in order to appease France, Niger’s former colonizer, and its allies. The decision to not allow the junta’s envoy to […]

13 hours ago

In this image taken from video, Niko, a pet squirrel, stands on the shoulder of Yeison in their ten...

Associated Press

A Venezuelan man and his pet squirrel made it to the US border. Now he’s preparing to say goodbye

MATAMOROS, Mexico (AP) — During the weeks it took Yeison and Niko to migrate from Venezuela toward the U.S., they navigated dangerous jungles and over a dead body. The two are so inseparable that Yeison sold his phone so both had enough bus money to continue their journey. Now as Yeison prepares to finally enter […]

19 hours ago

Migrants climb over concertina wire after they crossed the Rio Grande and entered the U.S. from Mex...

Associated Press

With temporary status for Venezuelans, the Biden administration turns to a familiar tool

MEXICO CITY (AP) — From a White House podium in May, U.S. Homeland Security Secretary Alejandro Mayorkas outlined new legal pathways to the United States for Venezuelans and others, along with a “very clear” message for those who come illegally. “Our borders are not open. People who cross our border unlawfully and without a legal […]

19 hours ago

Associated Press

Bulgaria to purchase US Stryker combat vehicles and related equipment

SOFIA, Bulgaria (AP) — Bulgaria’s government has approved the purchase of U.S.-made Stryker combat vehicles to modernize the country’s land forces and bring them in line with NATO standards. The decision, announced Friday by the government’s press office, followed the approval by the U.S. State Department of the sale of 183 Stryker vehicles and related […]

1 day ago

Associated Press

South Africa to host US trade forum as diplomatic tensions subside

JOHANNESBURG (AP) — South Africa will host a meeting in November of nations participating in the U.S. Africa Growth and Opportunity Act despite earlier calls to exclude the country from the forum due to its ties to Russia and the docking of a sanctioned Russian vessel near Cape Town last year. AGOA is U.S. legislation […]

3 days ago

Sponsored Articles

Swedish Cyberknife...

September is Prostate Cancer Awareness Month

September is a busy month on the sports calendar and also holds a very special designation: Prostate Cancer Awareness Month.

Ziply Fiber...

Dan Miller

The truth about Gigs, Gs and other internet marketing jargon

If you’re confused by internet technologies and marketing jargon, you’re not alone. Here's how you can make an informed decision.

Education families...

Education that meets the needs of students, families

Washington Virtual Academies (WAVA) is a program of Omak School District that is a full-time online public school for students in grades K-12.

Emergency preparedness...

Emergency planning for the worst-case scenario

What would you do if you woke up in the middle of the night and heard an intruder in your kitchen? West Coast Armory North can help.

Innovative Education...

The Power of an Innovative Education

Parents and students in Washington state have the power to reimagine the K-12 educational experience through Insight School of Washington.

Medicare fraud...

If you’re on Medicare, you can help stop fraud!

Fraud costs Medicare an estimated $60 billion each year and ultimately raises the cost of health care for everyone.

Stock market today: World shares track Wall Street rally, Tokyo’s benchmark at 33-year high