US stocks retreat while yen gains on Bank of Japan rate hike
Bank of Japan Resumes Hiking Rates as Economy Strengthens
Top News Bank of Japan Resumes Hiking Rates as Economy Strengthens The Bank of Japan raised its target for the overnight call rate to 0.5% from 0.25%, making its third rate hike since ending its long-running negative interest-rate policy in March. The bank previously raised the policy rate to 0.25% in July and had kept it at that level since.
· 3d · on MSN
Bank of Japan raises interest rate to about 0.5%, citing higher wages and inflation
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World shares were mostly lower on Monday after U.S. stocks edged back from their all-time high, with many Asian markets closed for holidays. In early European trading, Germany's DAX dropped 1.1% to 21,
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Wall Street pointed slightly lower in early trading Friday but remains on track to close the week with solid gains with major corporations turning in largely healthy earnings reports. Futures for the S&P 500 ticked down 0.
Japan’s core inflation rate rose to a 16-month high at 3% in December, year on year, boosting the case for a rate hike from the Bank of Japan.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Equity benchmarks rose in Tokyo ahead of a key interest rate decision by the Bank of Japan later Friday, where a hike is expected. Stocks also rose in Sydney and Seoul.
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On the winning side of Wall Street were Novo Nordisk’s U.S.-listed shares, which jumped 8.6%. The Danish company reported results from a clinical trial of a treatment for people who are overweight or obese, which could mean bigger profits in the future.
Wall Street's best day of the year so far was rooted in inflation relief and a boom in bank stocks reporting bumper earnings, with a retail readout up next on Thursday. After Tuesday's sub-forecast producer price data,
Shares were mixed in thin Asian trading on Monday after U.S. stocks edged back from their all-time high. Oil prices fell and U.S. futures sank, while Chinese shares shed some of their early gains after a survey of manufacturers showed export orders dropping to a five-month low.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
PMIs everywhere mostly positive; Japan and Singapore moved policy rates; India expansion loses some steam; UST 10yr at 4.62%; gold down and oil on hold; NZ$1 = 57.1 USc; TWI = 67.4
NEW YORK — U.S. stocks pulled back from their all-time high on Friday as they closed out a second straight winning week . The S&P 500 slipped 0.3% a day after setting a record. The Dow Jones Industrial Average dipped 140 points, or 0.3%, and the Nasdaq composite sank 0.5%.
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