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World Shares Mostly Advance Friday 09/25 04:50
World shares were mostly higher Friday and the bond market appeared to have
stabilized following another bond sell-off that brought U.S. Treasury yields to
their highest in years.
HONG KONG (AP) -- World shares were mostly higher Friday and the bond market
appeared to have stabilized following
https://apnews.com/article/bonds-rates-yields-wall-street-7d3ce7fdda0fd58afbeaf6
1293810a0c that brought U.S. Treasury yields to their highest in years.
U.S. futures edged higher. The futures for the S&P 500 rose 0.3%, while Dow
Jones Industrial Average futures also gained 0.3%.
In early European trading, Britain's FTSE 100 climbed 0.5% to 10,733.65.
France's CAC 40 also rose 0.5% to 8,118.32, while Germany's DAX advanced 1% to
25,514.28.
Japan's Nikkei 225 gained 1.3% to 66,364.20. Hong Kong's Hang Seng slipped
1% to 24,510.09. Australia's S&P/ASX 200 fell 0.4% to 8,665.00.
India's Sensex was up 0.3%.
Markets in mainland China, Taiwan and South Korea were closed because of a
holiday.
Wall Street's benchmark S&P 500 https://apnews.com/author/stan-choe, edging
down less than 0.1%. The Dow Jones Industrial Average dropped 0.3%, while the
technology-heavy Nasdaq composite climbed less than 0.1%.
A global sell-off in the bond market has again added pressure to the stock
market, as the yield on the U.S. 10-year Treasury reached its highest since
2007. The U.S. 10-year Treasury eased slightly to around 5.17% early Friday,
after rising above 5.20% on Thursday from around 5.11% Wednesday.
Government bond yields have been elevated as bond investors are demanding
higher compensation under increasing risks and uncertainties, including growing
inflationary pressure from the Iran war-driven energy shock and rising U.S.
government debt.
ING Bank analysts wrote in a commentary this week that factors including
elevated energy prices and inflation pressures are likely to continue to
pressure U.S. 10-year Treasury yields higher.
Oil prices fell early Friday as investors look for signs of the reopening of
the https://apnews.com/hub/strait-of-hormuz, the key waterway for global oil
transport. Brent crude, the international standard, dropped 1.7% to $98.52 per
barrel, remaining below the $100 mark although it's still well above the
roughly $72 a barrel level in late February before the start of the war.
While many investors are also monitoring the meeting in Washington between
U.S. President Donald Trump and Chinese President Xi Jinping, analysts said
limited concrete progress has been made, although the two sides touched on
topics including trade, https://apnews.com/hub/artificial-intelligence and the
Middle East.
The U.S. dollar fell to 157.91 Japanese yen from 158.86 yen. The euro was
trading at $1.1389, up from $1.1380.
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