The US stock and bond markets will be closed on Friday for the Easter holiday, with regular trading resuming on Monday. Asian shares were mostly higher on thin Good Friday trading, led by Tokyo’s Nikkei 225, which gained 1% to 34,730.28.
In South Korea, the Kospi rose 0.5% to 2,483.42, while Taiwan’s Taiex gained 0.3%. Regional tech companies advanced after global heavyweight Taiwan Semiconductor Manufacturing Co. reported a profit for the latest quarter that matched analysts’ expectations.
However, US President Donald Trump’s trade war remains a source of uncertainty. The tariffs create a dilemma for the Federal Reserve, which must balance cutting interest rates to encourage borrowing and spending with avoiding higher inflation.
The yield on the 10-year Treasury rose to 4.32% from 4.29%, following a climb last week that raised concerns about Trump’s trade war undermining confidence in US investments. In Europe, indexes slipped 0.6% in France and 0.5% in Germany, as the European Central Bank cut its main interest rate.
Oil trading was paused for the Easter weekend, with crude oil prices recovering some of their losses. The S&P 500 edged up by 0.1%, while the Nasdaq composite slipped 0.1%. Nvidia weighed on the market after sinking 2.9% following its disclosure that new export limits on chips to China could hurt its first-quarter results.
The Dow Jones Industrial Average dropped 527 points, with UnitedHealth Group falling 22.4%. The company cut its forecast for financial results this year and said its Medicare Advantage customers were getting more care than expected from doctors and outpatient services.
Source: https://6abc.com/post/is-us-stock-market-open-good-friday-asian-markets-are-mostly-higher-wall-street-stuck-trade-war-doldrums/16196308