From Yahoo Finance: 2024-05-01 01:20:27

Asian stocks fell Wednesday with most markets closed for a holiday, while U.S. stocks closed out their worst month since September. Tokyo’s Nikkei 225 index dropped 0.8%, and U.S. futures were mixed. Australia’s S&P/ASX 200 fell 1.2%. The S&P 500 and Dow Jones Industrial Average both tumbled, ending the month lower. Stocks began sinking after news of higher worker wages sparked inflation concerns. In the bond market, treasury yields jumped. GE Healthcare Technologies and F5 reported weaker results, while McDonald’s fell short of profit expectations. 3M and Eli Lilly reported stronger results, and cannabis stocks surged on news of marijuana reclassification by the DEA. Benchmark crude oil prices were lower, and the yield on the 10-year Treasury rose.

Amidst a holiday, Asian stocks dip and U.S. stocks post worst month since Sept. Tokyo’s Nikkei 225 falls 0.8%, and strong labor market data fuels inflation fears. Stock markets react as yields jump in bond market. Mixed earnings reports show GE Healthcare, F5 lower than expected, with McDonald’s falling short in profit. 3M and Eli Lilly exceed forecasts, and cannabis stocks soar on DEA marijuana reclassification news. Benchmark crude prices lower, while the 10-year Treasury yield rises. Euro and yen trading rates remain stable amidst the market’s volatility.

Stocks in Asia fall as U.S. markets close worst month since September. Higher worker wages spark inflation concerns, sending stocks tumbling. Mixed earnings reports with GE Healthcare, F5 missing expectations, while McDonald’s falls short of profit forecast. 3M, Eli Lilly exceed expectations, and cannabis stocks surge on DEA marijuana reclassification news. Benchmark crude lower, and 10-year Treasury yield rises. Euro and yen rates remain stable amidst market volatility. Market awaits Federal Reserve rate announcement, with focus on Jerome Powell’s guidance for the year.



Read more at Yahoo Finance: Asian stocks follow Wall St tumble. Most markets in the region close for holiday