Global Market Today: Asian shares mixed as bond yields, oil keep investors on edge
Contracts for the S&P 500 Index rose 0.5% after the underlying gauge erased its gains to close 0.2% lower in the final hours of Wednesday trading. Asian shares edged lower after Micron Technology Inc. gave an upbeat forecast, but warned that rising compensation costs would weigh on profit margins. Alphabet Inc.’s shares rose after Google began rolling out the Gemini 4 Argon, its long-awaited…
Asian shares exhibited mixed performance today as bond yields and oil prices continued to keep investors on edge. The S&P 500 Index futures rose in early trading, but Asian markets saw a dip following Micron Technology's optimistic outlook, which cautioned that mounting compensation expenses would impact profit margins. Alphabet Inc.'s shares gained after Google launched the highly anticipated Gemini 4 Argon artificial intelligence model.
Bond yields remained a primary concern, as global government bonds concluded their weakest quarter since 2024, with oil prices above $100 reigniting the risk of persistent inflation. US 30-year Treasury yields climbed, reaching their highest levels since 2002, while money market forecasts indicated a less than 40% chance of an October interest-rate increase by the Federal Reserve.
Australian and New Zealand bonds followed suit, tracking Treasuries downward. The US dollar concluded its best month since March, while the Japanese yen weakened following the Bank of Japan's summary of opinions. Wall Street's late fluctuations highlighted uncertainty regarding equities' trajectory, despite easing inflation concerns and diminished expectations for another Federal Reserve rate hike.
Focus now shifts to upcoming jobs data and the US midterm elections in November, as traders assess whether stocks can recuperate. Chris Zaccarelli of Northlight Asset Management anticipates that a robust earnings season and the post-election period will propel the market out of its trading range and attain new highs by year-end.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
