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The Hill
6 days ago
- Business
- The Hill
Asian shares mostly gain after big tech rally on Wall Street
Asian shares mostly gained on Thursday after a rally in U.S. tech stocks lifted the Nasdaq to an all-time high and helped Wall Street claw back most of its losses from earlier in the week. South Korea's Kospi climbed 1% to 3,164.26 after the Bank of Korea kept its benchmark interest rate unchanged and as semiconductor shares rose following Nvidia's overnight rally on Wall Street. Tokyo's Nikkei 225 fell 0.6 % to 39,583.78, while the Hang Seng in Hong Kong added 0.1% to 23,926.09. The Shanghai Composite index rose 0.4% to 3,505.58 while Australia's S&P/ASX 200 climbed 0.6% to 8,589.70. The dollar weakened against the Japanese yen and euro and oil prices dropped. On Wall Street on Wednesday, the S&P 500 rose 0.6% for its first gain this week. The benchmark index remains near the record it set last week after a better-than-expected U.S. jobs report. The Dow Jones Industrial Average added 0.5%. The Nasdaq composite, which is heavily weighted with technology stocks, closed 0.9% higher. The gain was good enough to nudge the index past the record high it set last Thursday. Nvidia rose 1.8% and became the first public company to exceed $4 trillion in value after its share price briefly topped $164 each in the early going. Shares in the AI boom poster child were going for around $14 per share at the start of 2023. The tech rally came as Wall Street continued to weigh the latest developments in President Donald Trump's renewed push this week to use threats of higher tariffs on goods imported into the U.S. in hopes of securing new trade agreements with countries around the globe, with the window for negotiations extended to Aug. 1. In other dealings on Thursday, benchmark U.S. crude lost 6 cents to $68.32 per barrel. Brent crude, the international standard, shed 8 cents to $70.14 per barrel. The dollar was trading at 146.21 Japanese yen, down from 146.26 yen. The euro rose to $1.1736 from $1.1723. ___ AP Business Writer Alex Veiga contributed
Winnipeg Free Press
6 days ago
- Business
- Winnipeg Free Press
Asian shares mostly gain after big tech rally on Wall Street
Asian shares mostly gained on Thursday after a rally in U.S. tech stocks lifted the Nasdaq to an all-time high and helped Wall Street claw back most of its losses from earlier in the week. South Korea's Kospi climbed 1% to 3,164.26 after the Bank of Korea's kept its benchmark interest rate unchanged and as semiconductor shares rose following Nvidia's overnight rally on Wall Street. Tokyo's Nikkei 225 fell 0.6 % to 39,583.78, while the Hang Seng in Hong Kong added 0.1% to 23,926.09. The Shanghai Composite index rose 0.4% to 3,505.58 while Australia's S&P/ASX 200 climbed 0.6% to 8,589.70. The dollar weakened against the Japanese yen and euro and oil prices dropped. On Wall Street on Wednesday, the S&P 500 rose 0.6% for its first gain this week. The benchmark index remains near the record it set last week after a better-than-expected U.S. jobs report. The Dow Jones Industrial Average added 0.5%. The Nasdaq composite, which is heavily weighted with technology stocks, closed 0.9% higher. The gain was good enough to nudge the index past the record high it set last Thursday. Nvidia rose 1.8% and became the first public company to exceed $4 trillion in value after its share price briefly topped $164 each in the early going. Shares in the AI boom poster child were going for around $14 per share at the start of 2023. Monday Mornings The latest local business news and a lookahead to the coming week. The tech rally came as Wall Street continued to weigh the latest developments in President Donald Trump's renewed push this week to use threats of higher tariffs on goods imported into the U.S. in hopes of securing new trade agreements with countries around the globe, with the window for negotiations extended to Aug. 1. In other dealings on Thursday, benchmark U.S. crude lost 6 cents to $68.32 per barrel. Brent crude, the international standard, shed 8 cents to $70.14 per barrel. The dollar was trading at 146.21 Japanese yen, down from 146.26 yen. The euro rose to $1.1736 from $1.1723. ___ AP Business Writer Alex Veiga contributed
CTV News
23-06-2025
- Business
- CTV News
May home sales barely move as high mortgage rates, prices, weigh on housing market
NEW YORK — Sales of previously occupied U.S. homes edged higher in May, as stubbornly high mortgage rates and rising prices made homebuying less affordable even as the inventory of properties on the market continued to increase. Existing home sales rose 0.8 per cent last month from April to a seasonally adjusted annual rate of 4.03 million units, the National Association of Realtors said Monday. Sales fell 0.7 per cent compared with May last year. The latest home sales fell topped the 3.95 million pace economists were expecting, according to FactSet. Home prices increased on an annual basis for the 23rd consecutive month, although the rate of growth continued to slow. The national median sales price rose 1.3 per cent in May from a year earlier to $422,800, an all-time high for the month of May. Home shoppers who can afford to buy at current mortgage rates benefited from a wider selection of properties on the market. There were 1.54 million unsold homes at the end of last month, a 6.2 per cent increase from April, and 20.3 per cent higher than May last year, NAR said. That's still well below the roughly two million homes for sale that was typical before the pandemic, however. May's month-end inventory translates to a 4.6-month supply at the current sales pace, up from a 4.4-month pace at the end of April and 3.8 months in May last year. Traditionally, a five to six month supply is considered a balanced market between buyers and sellers. Alex Veiga, The Associated Press
Yahoo
23-06-2025
- Business
- Yahoo
May home sales barely move as high mortgage rates, prices, weigh on housing market
NEW YORK (AP) — Sales of previously occupied U.S. homes edged higher in May, as stubbornly high mortgage rates and rising prices made homebuying less affordable even as the inventory of properties on the market continued to increase. Existing home sales rose 0.8% last month from April to a seasonally adjusted annual rate of 4.03 million units, the National Association of Realtors said Monday. Sales fell 0.7% compared with May last year. The latest home sales fell topped the 3.95 million pace economists were expecting, according to FactSet. Home prices increased on an annual basis for the 23rd consecutive month, although the rate of growth continued to slow. The national median sales price rose 1.3% in May from a year earlier to $422,800, an all-time high for the month of May. Home shoppers who can afford to buy at current mortgage rates benefited from a wider selection of properties on the market. There were 1.54 million unsold homes at the end of last month, a 6.2% increase from April, and 20.3% higher than May last year, NAR said. That's still well below the roughly 2 million homes for sale that was typical before the pandemic, however. May's month-end inventory translates to a 4.6-month supply at the current sales pace, up from a 4.4-month pace at the end of April and 3.8 months in May last year. Traditionally, a 5- to 6-month supply is considered a balanced market between buyers and sellers. Alex Veiga, The Associated Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
April home sales slow with high mortgage rates, prices, putting chill into spring buying season
Sales of previously occupied U.S. homes fell in April, as elevated mortgage rates and rising prices discouraged prospective home buyers during what's traditionally the busiest time of the year for the housing market. Existing home sales dropped 0.5% last month from March to a seasonally adjusted annual rate of 4 million units, the National Association of Realtors said Thursday. Sales fell 2% compared with April last year. The latest home sales fell slightly short of the 4.10 million pace economists were expecting, according to FactSet. Home prices increased on an annual basis for the 22nd consecutive month, although at a slower rate. The national median sales price rose 1.8% in April from a year earlier to $414,000, an all-time high for the month of April. There were 1.45 million unsold homes at the end of last month, a 9% increase from March, and 20.8% higher than April last year, NAR said. That translates to a 4.4-month supply at the current sales pace, up from a 3.5-month pace at the end of April last year. Traditionally, a 5- to 6-month supply is considered a balanced market between buyers and sellers. Alex Veiga, The Associated Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
