Stock market today: Asia shares decline as investors await earnings, US elections and economic data

TOKYO -- Asian shares mostly declined Thursday arsenic investors grappled pinch uncertainty up of nan United States statesmanlike election connected Nov. 5.

Japan's benchmark Nikkei 225 dipped 0.5% successful early trading to 39,069.20. Australia's S&P/ASX 200 slipped 0.3% to 8,153.20. Hong Kong's Hang Seng roseate 0.3% to 20,433.83, while nan Shanghai Composite fell 0.3% to 3,258.04.

South Korea's Kospi dropped 1.2% to 2,562.07, aft nan South Korean authorities reported North Korea's test-launch of what's suspected to beryllium caller long-range rocket designed to onslaught nan continental U.S.

Details of nan long-range rocket capabilities North Korea was testing were not yet known, but nan motorboat was apt meant to drawback America's attention up of nan U.S. predetermination Tuesday.

Market watchers were besides awaiting a monetary argumentation determination from nan Bank of Japan, though analysts expect nan cardinal slope to enactment pat.

Upcoming net releases successful Asia, arsenic good arsenic nan remainder of nan world, besides added to nan wait-and-see mood.

On Wall Street, nan S&P 500 slipped 0.3% to 5,813.67 aft drifting betwixt mini gains and losses respective times, though it’s still adjacent its all-time precocious group earlier successful October.

The Dow Jones Industrial Average edged down 0.2% to 42,141.54, while nan Nasdaq composite slipped 0.6% to 18,607.93, from its ain grounds group nan time before.

Alphabet climbed 2.8% aft beating analysts’ forecasts for profit successful nan latest quarter, acknowledgment mostly to nan capacity of its Google business. It’s nan latest of nan highly influential group of stocks known arsenic nan “Magnificent Seven” to apical precocious expectations for growth.

Computer spot companies person been immoderate of nan biggest winners of nan artificial intelligence rush, but Advanced Micro Devices helped resistance down stocks crossed nan manufacture aft reporting profit for nan latest 4th that only matched analysts’ expectations.

Nvidia, a spot elephantine that’s rocketed to go 1 of Wall Street’s largest astir influential stocks, fell 1.4% and was 1 of nan heaviest weights connected nan S&P 500.

One of nan fewer stocks to wounded nan scale astir arsenic overmuch was Eli Lilly, which sank 6.3% amid concerns astir 2 of nan supplier maker’s blockbuster products: glucosuria curen Mounjaro and weight nonaccomplishment counterpart Zepbound.

Also falling was Trump Media & Technology Group, nan institution down erstwhile Donald Trump’s Truth Social platform. It dropped 22.3% for nan worst nonaccomplishment since taking its spot connected nan Nasdaq banal marketplace pursuing a merger pinch different institution successful March. The banal is notoriously volatile, and it had been rallying powerfully complete nan past month, up to $40 from astir $12.

In nan enslaved market, yields edged higher pursuing nan latest readings connected nan U.S. economy. Growth for nan wide system slowed during nan summertime from nan spring, according to a preliminary estimate by nan U.S. government. But nan capacity was somewhat amended than economists expected.

A study Wednesday suggested employers extracurricular nan authorities accelerated their hiring successful October, erstwhile economists were forecasting a slowdown. It could raise optimism for Friday’s much broad jobs study coming from nan U.S. government.

A slowing system is nary astonishment aft nan Federal Reserve hiked liking rates sharply successful hopes of braking capable connected nan system to get ostentation nether control. The mobility is whether nan Fed tin thief support nan system retired of a recession, now that it’s begun cutting liking rates to support nan occupation marketplace humming.

Traders are mostly expecting nan Fed to trim its national costs complaint by a 4th of a percent constituent astatine its adjacent gathering adjacent week, according to information from CME Group.

The output connected nan 10-year Treasury roseate to 4.28% from 4.26% precocious Tuesday and conscionable 3.60% successful nan mediate of September.

In power trading, benchmark U.S. crude roseate 21 cents to $68.82 a barrel. Brent crude, nan world standard, added 33 cents to $72.88 a barrel.

In rate trading, nan U.S. dollar edged up to 153.48 Japanese yen from 153.31 yen. The euro costs $1.0853, inching down from $1.0858.

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AP Business Writer Stan Choe contributed.

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Yuri Kageyama is connected X: https://x.com/yurikageyama