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Asian shares are mixed as Oracle's earnings revive AI worries, hitting technology shares
- On Wednesday, the Federal Reserve cut its main interest rate and the U.S. stock market moved closer to record highs as the Dow Jones Industrial Average rose 1% to 48,057.75 and the Nasdaq composite gained 0.3% to 23,654.16.
- Jerome Powell, Federal Reserve Chair, said the Fed is in a difficult spot as it moved to bolster a slowing job market amid inflation pressures, while officials are split and expect one more cut by next year.
- Two Fed officials voted against the quarter-point cut and another wanted a half-point reduction, while officials released federal funds rate projections for 2026; the two-year Treasury yield slipped to 3.56% and the 10-year yield edged to 4.16%.
- Investors took heart from Jerome Powell's comments as markets reacted only modestly to the widely expected rate cut, with Powell signaling rates now neither push inflation nor jobs.
- On Thursday, Asian shares were mixed after the U.S. market's move, with the Hang Seng edging 0.1% higher to 25,564.87 after the HKMA trimmed rates to 4.00% and the Nikkei fell 1% due to SoftBank's drop.
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26 Articles
26 Articles
Associated Press News+20 Reposted by 20 other sources
Asian shares are mixed after Fed cuts rates, pushing Wall Street near its record
Asian shares are mixed after the U.S. stock market again approached its record high following the Federal Reserve’s cut in its main interest rate.
·United States
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Oracle's share price sank 11 percent this morning, and the prices of a number of other technology giants are also under pressure.
Coverage Details
Total News Sources26
Leaning Left9Leaning Right2Center11Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 41%
C 50%
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