Asian shares were mostly higher on Friday in quiet holiday trading, with markets closed in several countries for Good Friday and other holidays. Tokyo’s Nikkei 225 rose 0.4%, the Kospi in Seoul edged 0.1% higher, and the Shanghai Composite index gained 0.5%. Taiwan’s Taiex advanced 0.4% and in Bangkok, the SET added 0.3%.
On Wall Street, the S&P 500 reached a new all-time high, closing at 5,254.35, while the Dow Jones Industrial Average also set a record. The Nasdaq composite dipped slightly.
Oil prices jumped, with U.S. benchmark crude oil gaining $1.82 to $83.17 per barrel and Brent crude surging $1.59 to $87.00 per barrel.
The U.S. dollar slipped slightly against the Japanese yen and the euro edged lower.
The U.S. stock market has been on a strong run, with the S&P 500 capping its fifth straight winning month. Companies like Nvidia and Super Micro Computer saw significant gains, while others like Tesla and Boeing faced challenges.
Investors are hopeful for a recovery in the housing market, with interest and mortgage rates expected to come down later this year.
Critics warn that stock prices may be climbing faster than corporate profits, leaving them looking expensive by some measures. Companies will need to deliver solid growth in profits to justify the market’s moves.
Despite weaker profit and revenue reported by home furnishings retailer RH, investors are optimistic about a potential uptick in demand. Chemours fell despite reporting better-than-expected results, while Trump Media & Technology Group saw a decline after recent gains.
Overall, the market remains optimistic about the U.S. economy’s growth and the potential for interest rate cuts by the Federal Reserve. Analysts are closely watching for signs of inflation and corporate profit growth to guide future market trends.
