Japanese stocks edged up Friday as they reopened after being shut down all the previous day by a technical fault, though markets across Asia were mixed in holiday-thinned trade with investors keeping an eye on stimulus talks in Washington.
After September’s sell-off, Wall Street got the new quarter off to a positive start as technology firms appeared to rediscover their mojo, helped by a dip in US jobless claims that provided hope for key non-farm payrolls data later in the day.
However, news that several big-name firms including Walt Disney, American Airlines and United had cut tens of thousands of posts, and that Americans’ personal income had dived, fuelled concerns about the outlook for the consumer-driven US economy.
The bigger-than-feared fall in income came as expectations dwindled that US lawmakers will have time to pass a new stimulus package before the November 3 presidential election.
“The data highlights the imperative