Stock market today: Asian shares trade higher after Wall St rally takes S&P 500 near record

TOKYO -- Stocks successful Asia traded higher Friday aft a rally connected Wall Street that pulled the S&P 500 backmost wrong 1% of its record.

Benchmarks roseate successful Tokyo, Seoul, Sydney and China, wherever investors were focused connected the merchandise of April ostentation figures.

In Japan, the Finance Ministry reported a grounds existent relationship surplus for the fiscal twelvemonth done March, arsenic beardown car exports whittled down its commercialized shortage and the federation racked up coagulated returns connected overseas investments. However, anemic user spending undermined that affirmative data.

Japan's benchmark Nikkei 225 roseate 0.4% to 38,229.11, portion Australia's S&P/ASX 200 roseate 0.5% to 7,761.90. South Korea's Kospi added 0.8% to 2,733.06.

Hong Kong's Hang Seng jumped 2.1% to 18,918.54, portion the Shanghai Composite edged 0.2% higher, to 3,160.61.

Price information expected Saturday are being watched to spot if the system mightiness beryllium regaining momentum.

“Despite efforts, China has grappled with user deflation for astir a year, presenting a formidable situation that Beijing has yet to overcome,” said Stephen Innes, managing spouse astatine SPI Asset Management.

On Thursday, the S&P 500 roseate 0.5% to 5,214.08. The Dow Jones Industrial Average gained 0.8% to 39,387.76, and the Nasdaq composite added 0.3%, to 16,346.26.

A study showing a pickup successful layoffs helped to enactment the market. The fig of workers applying for unemployment benefits roseate by much past week than economists expected, though it remains comparatively debased compared with history.

That could beryllium a motion the system tin propulsion disconnected a hoped-for balancing enactment of staying coagulated capable to debar a atrocious recession, but not truthful beardown that it puts upward unit connected inflation.

Equinix jumped 11.5% aft reporting stronger nett for the latest 4th than analysts expected. The company, which runs information centers astir the world, besides said an autarkic probe led by its committee recovered nary accounting inconsistencies oregon errors that would necessitate fiscal restatements. Earlier, an concern steadfast had accused it of “major accounting manipulation.”

Yeti Holdings roseate 12.8% aft reporting amended nett for the latest 4th than expected acknowledgment to stronger income for its drinkware and coolers and equipment.

Cheesecake Factory gained 6.2% aft topping expectations for profit. The results were encouraging pursuing immoderate caller warnings by large nutrient and portion companies astir however overmuch unit their customers, peculiarly lower-income ones, are feeling.

Airbnb sank 6.9% contempt topping expectations for nett and revenue. It gave a forecasted scope for gross successful the existent 4th whose midpoint fell abbreviated of what analysts expected. It said an earlier Easter pulled much of its concern this twelvemonth into the archetypal 4th from the 2nd quarter.

In the enslaved market, the output connected the 10-year Treasury eased to 4.45% from 4.50% precocious Wednesday. The two-year yield, which much intimately tracks expectations for the Fed, slipped to 4.81% from 4.84% precocious Wednesday.

A creaseless auction of 30-year Treasury bonds helped to support yields stable.

Treasury yields person mostly been easing since Federal Reserve Chair Jerome Powell said past week that the cardinal slope remains person to cutting its main involvement complaint than hiking it, contempt a drawstring of stubbornly precocious readings connected ostentation this year. A cooler-than-expected jobs study connected Friday, meanwhile, suggested the U.S. system could negociate to debar being either excessively blistery oregon excessively cold.

In vigor trading, benchmark U.S. crude roseate 60 cents to $79.86 a tube successful physics trading connected the New York Mercantile Exchange. Brent crude, the planetary standard, added 54 cents to $84.42 a barrel.

In currency trading, the U.S. dollar edged up to 155.53 Japanese yen from 155.50 yen.

The anemic yen has been some a blessing and a interest for Japan, arsenic it helps boost export net but chips distant astatine purchasing power. Expectations are increasing for the Bank of Japan to commencement raising involvement rates, though however overmuch precisely and erstwhile stay unclear. The U.S. dollar was trading astatine 130 yen levels a twelvemonth ago.

The euro fell to $1.0776 from $1.0782.