Stock market today: Global stocks mixed with volatile yen after Wall Street rises on inflation report

HONG KONG — Global stock markets were mixed on Friday, with the Japanese yen giving back some of its gains after the latest US statement. inflation update reinforced Wall Street's belief that interest rate easing could come as early as September.

The future of S&The P 500 and the Dow Jones Industrial Average gained 0.1%.

The U.S. dollar lost 2.1% against the yen overnight and traded as low as 157.43 yen, fueling speculation that Japanese authorities may have intervened to amplify the impact of softer U.S. inflation data. It recovered some of its losses on Friday, rising to 159.12 yen from 158.80 yen.

Another key data coming up is the US producer price index, which will be released later today, while inflation figures for Germany, France and Italy will also be released.

European markets started the day higher. The German DAX rose 0.3% to 18,591.54 points and the CAC 40 in Paris rose 0.8% to 7,689.42 points. In London, the FTSE 100 gained 0.4% to 8,254.06 points.

In Asia, Tokyo's Nikkei 225 index lost 2.5% to 41,190.68.

Hong Kong's Hang Seng Index climbed 2.6% to 18,293.38 and the Shanghai Composite Index was little changed at 2,971.29 after data showed Chinese exports rose 8.6% in June, better than market expectations.

Australia S&The P/ASX 200 index rose 0.9% to 7,959.30 points. South Korea's Kospi slipped 1.2% to 2,857.00 points.

Elsewhere, Bangkok’s SET rose 0.1%. Taiwan’s Taiex fell 2%, and Taiwan Semiconductor lost 3.7%. The company had earlier advanced after reporting that its revenue rose nearly 33% in June from the same period last year, but followed Wall Street’s tech giants lower.

On Wall Street overnight, four out of five S&P stocks were down&The P 500 index climbed, despite declines for Nvidia, Microsoft and a handful of other top companies. influential companies masked that underlying strength. These giants have been the market's biggest winners amid a frenzy over artificial intelligence technology that has led critics to say they have become too expensive, and they have helped drag the S&The P 500 is down 0.9% from its all-time high set the day before.

The falls in big tech stocks also pushed the Nasdaq Composite down 2% from its own record high. The declines snapped a seven-day winning streak for both&P 500 and Nasdaq Composite. The less tech-heavy Dow Jones Industrial Average rose 32 points, or 0.1%.

The direction was firmly up for most Wall Street stocks, especially housing-related companies, real estate owners and others that benefit from easier interest rates. SBA Communications, which owns towers and other sites used for wireless communications infrastructure, jumped 7.5%, the biggest gain of the year.&P 500.

The day's action was even stronger in the bond market, where yields fell as traders placed bets for next year. Federal Reserve to start lowering rates soon its main interest rate. It has been at its highest level in more than two decades for almost a year.

Wall Street wants lower interest rates to ease pressure that has built up on the economy due to the high cost of borrowing. buy housescars or anything on credit cardFed officials, however, have said They want to see more reliable inflation data before acting.

Wall Street viewed Thursday's report, which showed smaller-than-expected price increases from a year earlier for gasoline, cars and other things U.S. consumers bought in June, as evidence of that.

Following the release of the reports, Treasury yields immediately fell. The yield on the 10-year Treasury note fell to 4.20% from 4.28% late Wednesday and from 4.70% in April. This is a major move for the bond market and a major boost for stock prices.

In total, the S&The P 500 index fell 0.9% to 5,584.54 points. The Dow Jones gained 0.1% to 39,753.75 points and the Nasdaq Composite fell 2% to 18,283.41 points.

In other trading, benchmark U.S. crude oil gained $1.03 to $83.65 a barrel in electronic trading on the New York Mercantile Exchange.

Brent crude oil, the international benchmark, gained 73 cents to $86.13 a barrel.

The euro rose from 1.0865 to 1.0887 dollars.