BANGKOK (AP) \u2014 Shares were mostly higher Tuesday in Europe and Asia after U.S. stocks drifted to a mixed finish ahead of potentially market-moving events later in the week. <\/p>\n
Oil prices fell back after U.S. Treasury Secretary Scott Bessent announced fresh sanctions<\/a> against Iran and warned that countries persisting in doing business with the Islamic Republic would face retaliation.<\/p>\n Germany\u2019s DAX gained 0.5% to 26,240.76 and the CAC 40 in Paris added 0.3% to 8,480.52. Britain\u2019s FTSE 100 edged 0.1% higher, to 10,869.93. <\/p>\n The future for the S&P 500 was up 0.3% while that for the Dow Jones Industrial Average rose 0.2%. <\/p>\n During Asian trading, Tokyo\u2019s Nikkei 225 gained 0.5% to 65,856.43. Shares in technology investor SoftBank Group climbed 2.3%. <\/p>\n The Kospi in South Korea reversed early losses, gaining 0.7% to 6,742.74 as traders resumed buying tech shares, snapping up bargains. <\/p>\n Hong Kong\u2019s Hang Seng was nearly unchanged at 25,511.10, while the Shanghai Composite index picked up 0.2% to 3,889.44. <\/p>\n In Australia, the S&P\/ASX 200 gained 0.7% to 9,164.60. <\/p>\n Taiwan\u2019s Taiex jumped 0.9%, while the Sensex in India lost 0.2%.<\/p>\n On Monday, areas of the bond market<\/a> that the U.S. Treasury Department has been trying to calm<\/a> eased a bit, relieving pressure on stocks. <\/p>\n The S&P 500 slipped 0.3%, while the Dow industrials added 0.3%. The Nasdaq composite fell 0.8%.<\/p>\n Tech stocks led the decline. They\u2019ve had big swings recently due to worries that the frenzy around artificial-intelligence<\/a> technology has sent prices too high and huge demand for AI chips will falter if AI doesn\u2019t yield enough profits. <\/p>\n Chip giant Nvidia, a tremendous winner of the AI boom, lost 2.9% on Monday. It will deliver its quarterly earnings report on Wednesday and that could dictate the next big move for AI-related stocks. Micron Technology lost 5.8% and Broadcom fell 2.6%. <\/p>\n In the bond market, the yield of the 10-year Treasury eased to 4.69% from 4.74% late Friday, returning to where it was last week before the U.S. Treasury Department announced a surprise move<\/a> to increase the size of its planned buybacks of Treasurys. <\/p>\n Longer-term Treasury yields climbed through the summer on worries about high inflation, huge government debts and other factors. High yields make it more expensive for everyone to borrow, not just the government, and already have pushed up mortgage rates<\/a> and hurt the housing industry.<\/p>\n \u201cThe latest discussion about using Treasury General Account cash to help finance purchases of longer-dated bonds gave the market something to chew on Monday, and it initially liked the taste. Long yields fell, and the curve flattened,\u201d Stephen Innes of SPI Asset Management said in a commentary. <\/p>\n <\/p>\n \n Sign up for Morning Wire:<\/strong> \u201cBut there is a difference between forcing the bond market to blink for an afternoon and solving the underlying problem,\u201d he said. <\/p>\n The Federal Reserve\u2019s new chairman, Kevin Warsh, is set to deliver a speech Friday at an annual economic symposium in Jackson Hole, Wyoming, the backdrop for past policy announcements.<\/p>\n Analysts say Warsh is likely to talk about inflation and how the Fed plans to deal with it. <\/p>\n Oil prices are a major factor behind higher costs and Brent crude, the international standard, has been trading above the $72 per barrel level it was at before the war with Iran began in late February. <\/p>\n Early Tuesday, Brent crude fell 2% to $88.74 per barrel. U.S. benchmark crude oil shed 2.2% to $83.14 per barrel. <\/p>\n Last month, Brent zigzagged between $72 and $102 as hopes rose and fell that the United States and Iran<\/a> could reach a deal that would allow oil tankers to freely exit the Persian Gulf again. The new U.S. sanctions announced Monday helped drag the value of Iran\u2019s currency<\/a>, the rial, to a record low against the U.S. dollar.<\/p>\n In other dealings, the U.S. dollar rose to 159.30 Japanese yen from 159.10 yen. The euro was trading at $1.1670, up from $1.1667.<\/p>\n","protected":false},"excerpt":{"rendered":"BANGKOK (AP) \u2014 Shares were mostly higher Tuesday in Europe and Asia after U.S. stocks drifted to a…\n","protected":false},"author":3,"featured_media":1022851,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[6],"tags":[738,3774,148,64,12042,8309,440,455,439,60,57,59,65,83,6087,75621,44863,147,53197,18244,755,17786,16266,67,132,68,93,107,1669],"class_list":["post-1022850","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-artificial-intelligence","tag-asia","tag-broadcom-inc","tag-business","tag-economic-policy","tag-energy-markets","tag-europe","tag-federal-reserve-system","tag-financial-markets","tag-financial-services","tag-general-news","tag-inc","tag-information-technology","tag-iran","tag-iran-war","tag-kevin-warsh","tag-micron-technology","tag-nvidia-corp","tag-oil-and-gas-industry","tag-scott-bessent","tag-softbank-group-corp","tag-stephen-innes","tag-stocks-and-bonds","tag-united-states","tag-unitedstates","tag-us","tag-washington-news","tag-world-news","tag-wyoming"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/117155459843486971","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/1022850","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=1022850"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/1022850\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/1022851"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=1022850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=1022850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=1022850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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