Global Markets Today: Japan’s Nikkei 225 crossed the 50,000 mark for the first time on Monday, leading regional gains as investors welcomed progress in U.S.-China trade negotiations and positive cues from Wall Street. The benchmark index rallied more than 2 per cent, while the Topix climbed 1.61 per cent.
South Korea’s Kospi surged 1.83 per cent after reaching an all-time high on Friday, and the Kosdaq gained 0.72 per cent.
Meanwhile, Asian markets traded higher after senior U.S. and Chinese trade officials established a framework addressing several contentious issues, setting the stage for Presidents Donald Trump and Xi Jinping to finalize the agreement.
Futures for Hong Kong’s Hang Seng Index signaled a stronger opening, trading at 26,256 compared with the previous close of 26,160.15, while Australia’s S&P/ASX 200 opened 0.54 per cent higher.
US stock market today
Last Friday, all three major U.S. stock indexes ended at record highs, as cooler inflation data fueled investor optimism that the Federal Reserve would continue its rate-cutting trajectory — supporting economic growth and validating higher equity valuations.
The Dow Jones Industrial Average advanced 472.51 points, or 1.01 per cent, to close at a record 47,207.12, marking its first-ever finish above the 47,000 mark. The S&P 500 gained 0.79 per cent to reach 6,791.69, while the Nasdaq Composite rose 1.15 per cent to 23,204.87.
Market participants are now turning their focus to the Fed’s anticipated rate cut and upcoming earnings announcements from major technology firms.
Labor Department’s Consumer Price Index stayed high in September but came in slightly below analysts’ expectations, easing concerns about tariffs driving inflation sharply higher and essentially confirming a 25-basis-point rate cut at the Fed’s policy meeting next week.
(With inputs from agencies)
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