Shares were mostly higher Monday in Asia after Wall Street ended last week on a high note.
BANGKOK — Shares mostly advanced in Asia on Monday after Wall Street benchmarks ended last week on a high note.Bangkok’s SET index rose 0.4% on forecasts for a turnaround for the economy, which has been battered by the pandemic.
The year has begun with optimism that cooling inflation trends could get the Federal Reserve to ease off soon on its sharp hikes to interest rates. Such increases can drive down inflation, but they do so by slowing the economy and risk causing a recession. They also hurt investment prices. The Dow Jones Industrial Average DJIA rose 0.3% to 34,302.61. The Nasdaq COMP rose 0.7% to 11,079.16.JPMorgan Chase JPM rose 2.5% after beating analysts’ expectations for earnings and revenue. Bank of America BAC also shook off a morning stumble to rise 2.2% after reporting better results than expected. Bank of New York BK Mellon rose 1.8% following its earnings release and announcement of a program to buy back up to $5 billion of its stock.
If the economy does fall into a recession, as many investors expect, sharper drops for profits may be set for 2023. That’s why the forecasts for upcoming earnings that CEOs give this reporting season may be even more important than their latest results.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian shares cautious, BOJ faces crunch policy decisionInvestors waited nervously to see if the Bank of Japan will defend its super-sized stimulus policy at a pivotal meeting this week.
Read more »
Asian shares inch higher, BOJ battles bond bearsAsian shares edged higher on Monday as investors waited nervously to see whether the Bank of Japan (BOJ) would defend its super-sized stimulus policy at a pivotal meeting this week, while a holiday in U.S. markets made for thin trading.
Read more »
Asian shares rise, yen climbs as BOJ battles bond bearsAsian shares firmed on Monday as optimism about China's reopening offset concerns the Bank of Japan (BOJ) might temper its super-sized stimulus policy at a pivotal meeting this week, while a holiday in U.S. markets made for thin trading.
Read more »
The year begins with continued optimism on Wall StreetA drop for Tesla's stock, though, weighed on Wall Street. It fell 0.9% after slashing prices dramatically on several versions of its electric vehicles.
Read more »
Top Wall Street analysts like these stocks amid easing inflationTipRanks analyst ranking service pinpoints Wall Street's best-performing stocks, including Alphabet & Intuitive Surgical
Read more »
Wall Street's favorite retail stocks include Amazon and this little-known shoe companyThese are analysts favorite retails stocks with more than 30% upside potential.
Read more »