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Asian Shares were mostly higher on Tuesday after the benchmark wall Street The increase came at the start of a relatively quiet holiday week.
Oil prices and US futures slipped.
tokyoThe Nikkei 225 slipped 0.1% to 50,359.78 and fell against the dollar. Japani The yen came after officials in Tokyo warned they would intervene if the yen weakened sharply.
The dollar was trading at 156.03 yen, down from 157.04 yen late Monday. The euro rose to $1.1777 from $1.1762.
Hong Kong’s Hang Seng gave up early gains and fell 0.1% to 25,762.64. The Shanghai Composite Index rose 0.1% to 3,920.16.
South Korea’s Kospi rose 0.3% to 4,117.15, while the S&P/ASX 200 in Australia jumped 1.1% to 8,795.70.
In Taiwan, the Taiex rose 0.6%, while India’s Sensex was almost unchanged.
Markets in the US will close early on Wednesday on Christmas Eve and will remain closed for Christmas on Thursday. The short week for trading includes several economic reports that may shed more light on the condition and direction of the US economy.
On Tuesday, the government will release the first of three estimates on gross domestic product, a reflection of how the broader US economy performed in the third quarter. on wednesday labor department Will release its weekly data on applications for jobless benefits, which stands as a proxy for US layoffs.
The Conference Board also reports the results of its December consumer confidence survey on Tuesday.
The S&P 500 rose 0.6% on Monday to 6,878.49. The Dow Jones Industrial Average rose 0.5% to 48,362.68 and the Nasdaq Composite added 0.5% to 23,428.83.
Smaller company stocks performed particularly well. The Russell 2000 index outperformed other major indexes with a gain of 1.2%.
The gains helped propel the major indices into winning territory for the month, as December ended in a roller-coaster ride. Technology companies, especially those focused on artificial intelligence, have been the main force behind the market’s ups and downs. The direction of AI-related stocks will likely determine whether the market closes December with a profit or a loss.
Uber rose 2.5% and Lyft rose 2.7% after announcing plans to bring robotaxi services to London next year.
Paramount Skydance rose 4.3%. The company sweetened its hostile takeover bid for Warner Bros. Discovery with an “irrevocable personal guarantee” from Larry Ellison, father of Oracle founder and Paramount CEO David Ellison. He is putting billions of dollars into supporting the deal as part of the latest move in Paramount’s bidding war against Netflix.
Warner Bros. Discovery rose 3.5% and Netflix fell 1.2%.
Dominion Energy fell 3.7% after the Trump administration announced it would freeze leases for five large-scale offshore wind projects. These include Dominion’s Coastal Virginia Offshore Wind Project.
Gold and silver touched records. Gold prices rose nearly 1% to 4,512.40 early Tuesday on expectations of further interest rate cuts by the U.S. Federal Reserve, extending its consecutive rise throughout the year. Silver rose 1.2%.
Oil prices jumped after the U.S. Coast Guard said it was pursuing another sanctioned oil tanker in the Caribbean.
U.S. benchmark crude oil fell 23 cents to $57.78 a barrel early Tuesday. On Monday it jumped 2.4% to $ 58.01 per barrel.
The price of Brent crude, the international standard, fell 22 cents to $61.85 a barrel. It increased by 2.6% on Monday.
Recent reports have shown that US inflation remains high and consumer confidence has faded over the past year. Overall, the job market has been slow and retail sales have weakened.
The impact of the ongoing and widespread US trade war is looming large on consumers and businesses who are already stressed and worried by higher prices. The mix of extremely high inflation and a weak jobs market has also put the Fed in an awkward policy position going forward.
Still, Wall Street is mostly betting that the Fed will keep interest rates steady at its meeting in January. It has cut the benchmark interest rate in its last three meetings, even as inflation remains above its 2% target.
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AP Business Writers Damien Troise and Matt Ott contributed to this story.