Business
Stock market today: Asian stocks fall, euro drops on French election results
HONG KONG — Asian stocks were mostly lower on Monday as the euro tumbled following the shock French election result, while U.S. stocks hit new records on Friday, boosted by a long-awaited report in the labor market.
U.S. oil futures and prices are falling.
The euro climbed above $1.08, while gains were tempered by the surprising results of the French parliamentary elections.
The left-wing New Popular Front has won the most seats In the 2024 French legislative elections, the party managed to contain a far-right surge but failed to secure an absolute majority. This result leaves France facing the stunning prospect of a parliament without an absolute majority and concerns about political and strategic uncertainty.
The currency fell to $1.0829 from $1.0836 in morning trade.
In Tokyo, the Nikkei 225 index rose 0.2 percent to 40,999.80 points, despite official data showing real wages fell 1.4 percent from a year earlier in May, the 26th straight month of declines, as a weaker yen and rising commodity prices pushed up import costs. Nominal wages rose 1.9 percent.
Hong Kong's Hang Seng index fell 1.3% to 17,571.31 and the Shanghai Composite Index fell 0.6% to 2,933.44.
Australia S&The P/ASX 200 fell 0.4% to 7,790.80 while South Korea's Kospi was down less than 0.1% to 2,861.92.
Friday, the S&The P 500 index climbed 0.5% to 5,567.19, setting an all-time high for a third straight day after trading was paused Thursday for the July 4 holiday. The index has already set 34 records and is up nearly 17% this year, just over halfway there.
The Dow Jones Industrial Average rose 0.2% to 39,375.87, while the Nasdaq Composite added 0.9% to 18,352.76.
The action was more decisive in the bond market, where Treasury yields fell after the release of the U.S. jobs report. Employers hired more workers last month than economists expected, but the number of hires remained down from May. In addition, the unemployment rate rose unexpectedly, growth in worker wages slowed and the U.S. government said hiring in previous months was lower than it had previously reported.
Overall, the data reinforced Wall Street's belief that U.S. economic growth is slowing under the weight of high interest rates. That's precisely what investors want to see, because a slowdown keep a lid on inflation and could push the Federal Reserve to begin cutting rates its main interest rate, which is at its highest level in two decades.
The question is whether the economy can stay in this sweet spot, neither too hot nor too cold, while the Federal Reserve carefully plans its next steps. The hope is that the Fed will cut interest rates early enough and by enough to prevent the economic slowdown from sliding into a recession, but not so much that it allows inflation to pick up steam and start rising again.
The jobs report made clear that the Fed is on track to cut its key interest rate later this year, likely in September and perhaps again in December. The yield on two-year Treasury notes, which closely tracks expectations of Fed action, fell to 4.60% from 4.71% late Wednesday.
The yield on the 10-year Treasury note, the centerpiece of the bond market, fell to 4.27% from 4.36% late Wednesday and 4.70% in April. That's a notable development for the bond market and provides support for stock prices.
In other trading Monday, benchmark U.S. crude oil fell 20 cents to $82.96 a barrel in electronic trading on the New York Mercantile Exchange.
Brent crude oil, the international benchmark, lost 7 cents to $86.47 a barrel.
The US dollar rose from 160.72 yen to 160.96 Japanese yen.
|
Sources 2/ https://abcnews.go.com/US/wireStory/stock-market-today-asian-stocks-fall-euro-drop-111736366 The mention sources can contact us to remove/changing this article |
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]
 |
 |
 |
