Stock market today: Asian shares track Wall St's advance fueled by cooler jobs data

Asian shares were mostly higher connected Monday aft Wall Street ended past week with the stock market's champion time successful implicit 2 months successful a rally backed by the cooler-than-expected U.S. employment data.

U.S. futures edged higher and lipid prices rose.

The Japanese yen weakened somewhat aft its worth swung from a debased of 160.25 to the U.S. dollar to 151.86 precocious past week pursuing suspected authorities intervention. The dollar bought 153.93 yen, up from 152.90 yen.

Japanese Finance Minister Shunichi Suzuki told a gathering astatine the Asian Development Bank’s yearly gathering Friday, held successful Tiblisi, Georgia, that accelerated fluctuations were hurting households and businesses.

The euro roseate to $1.0765 from $1.0763.

The Hang Seng successful Hong Kong mislaid 0.2% to 18,447.12 portion the Shanghai Composite scale roseate 0.9% to 3,133.92 arsenic markets reopened aft a weeklong holiday. A backstage assemblage survey Monday showed the country’s services assemblage grew astatine a slower gait successful April owed to rising costs though caller orders roseate and concern sentiment improved.

Australia’s S&P/ASX 200 roseate 0.5% to 7,669.50. Taiwan’s Taiex gained 1.2%.

Japan and South Korea’s markets were closed for holidays.

On Friday, the S&P 500 roseate 1.3% to 5,127.79, its champion time since precocious February. The benchmark scale besides erased its losses for the week.

The Dow Jones Industrial Average roseate 1.2% to 38,675.68. The Nasdaq composite ended 2% higher and closed astatine 16,156.33, reflecting beardown gains by exertion assemblage stocks, which accounted for overmuch of the rally.

The nation’s employers added 175,000 jobs past month, down sharply from the blockbuster summation of 315,000 successful March, according to the Labor Department. The latest hiring tally came successful good beneath the 233,000 summation that economists had predicted. Meanwhile, mean hourly earnings, a cardinal operator of inflation, roseate little than expected.

The humble summation successful hiring past period suggests the Federal Reserve’s assertive streak of complaint hikes whitethorn beryllium yet starting to instrumentality a bigger toll connected the world’s largest economy. That whitethorn assistance reassure the Fed that ostentation volition easiness further, which could determination the cardinal slope person to lowering involvement rates.

Friday's marketplace rally was widespread, though exertion stocks powered overmuch of the gains. Apple jumped 6% aft announcing a mammoth $110 cardinal banal buyback. The tech elephantine reported precocious Thursday its steepest quarterly diminution successful iPhone income since the outset of the pandemic.

Microsoft roseate 2.2% and Nvidia added 3.5%.

Several companies notched gains aft reporting beardown quarterly results.

Amgen climbed 11.8% aft the biotechnology institution gave investors an encouraging update connected a imaginable obesity drug. Live Nation Entertainment added 7.2% aft the summons seller and performance promoter bushed analysts’ first-quarter gross forecasts.

Motorola Solutions closed 5.2% higher aft the communications instrumentality shaper raised its nett forecast for the year.

Booking Holdings roseate 3% aft reporting better-than-expected first-quarter bookings and revenue. Another online question company, Expedia Group, didn't fare arsenic well, contempt its latest quarterly results beating Wall Street targets. Its shares slumped 15.3% for the biggest diminution among S&P 500 stocks aft it lowered its full-year bookings guidance due to the fact that its Vrbo rental portion has been dilatory to retrieve from its migration to Expedia’s platform.

In vigor trading, benchmark U.S. crude roseate 23 cents to $78.34 a tube successful physics trading connected the New York Mercantile Exchange. Brent crude, the planetary standard, climbed 18 cents to $83.14 a barrel.