Stock market today: Wall Street hangs near its records after wild swings in Asian markets
The S&P 500 was flat in midday trading, coming off its sixth winning week in the last seven. The Dow Jones Industrial Average pulled back 125 points, or 0.3%, from its all-time high set on Friday. The Nasdaq composite was 0.1% higher, as of
It’s a pause for
An overriding worry on
“Payrolls remain the biggest catalyst” for the
At
In the past, a stronger-than-expected number could have hurt the stock market by fanning worries about upward pressure on inflation. Now, though, it would likely be welcomed as a signal that a recession shouldn’t be as big a worry.
Interest rates and the strength of the economy are usually the two main levers that set prices for stocks. In
Japan’s
Ishiba has expressed support for the Bank of Japan’s move to pull interest rates away from their near-zero level, which puts upward pressure on the value of the Japanese yen. A stronger yen can hurt profits for Japanese exporters, who make sales in other currencies and then convert them back into yen.
That in turn helped to drag down automakers
Also on
Another gain for Apple was helping to offset those losses and was the strongest force pushing upward on the S&P 500. After weakening in late July with other Big Tech stocks amid worries their prices had shot too high, Apple's stock has been climbing back toward its all-time closing high of
In
China’s central bank announced moves on Sunday to ease mortgage rates for existing home loans by
Markets in mainland
In the bond market, the yield on the
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AP Writer
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