Stock market today: Asian stocks are mixed ahead of key U.S. jobs data
Asian stocks are mixed after a steady Thursday on Wall Street as markets anticipate the key U.S. jobs data that will be revealed later in the day
HONG KONG — Asian stocks were mixed Friday after a steady Thursday on Wall Street as markets anticipated the key U.S. jobs data that will be revealed later in the day.
U.S. futures and oil prices rose.
Japan’s benchmark Nikkei 225 edged 0.1% lower to 38,661.04 after Friday data showed the household spending figures in April were up 0.5% year-on-year. This is the first increase since February 2023, a key indicator to assess the country’s economy as central bank officials prepare to hold the policy meeting next week.
Hong Kong’s Hang Seng index declined 0.6% to 18,367.73, and the Shanghai Composite index was down 0.4% to 3,036.08 as China trade data showed that exports in May rose faster than expected at 7.6% compared to the previous year, while imports were weaker than market forecasts.
Australia’s S&P/ASX 200 climbed 0.4% to 7,853.40. South Korea’s Kospi added 0.8% to 2,709.63.
On Thursday, the S&P 500 barely budged a day after leaping to set an all-time high for the 25th time this year. It dipped less than 0.1% to 5,352.96. The Dow Jones Industrial Average added 0.2% to 38,886.17, while the Nasdaq composite slipped 0.1% to 17,173.12 after hitting its own record.
Big Lots tumbled 18.2% after reporting a larger loss for the latest quarter than expected. The retailer said it missed targets for sales because its customers are continuing to pull back on their spending, particularly for things that aren’t essentials.
Another retailer, Five Below’s stock fell 10.6%. Its profit and revenue last quarter fell short of analysts’ expectations, and CEO Joel Anderson said struggles for
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