Japanese Shares Rise Amid U.S. Gains as Investors Weigh Earnings

Japanese shares rose for the first time in four days, tracking gains in U.S. shares, as companies including Suzuki Motor Corp. and TV Tokyo Holdings Corp. gained on earnings.

The Topix index advanced 0.7 percent to 1,281.29 as of 9:08 a.m. in Tokyo. The Nikkei 225 Stock Average climbed 0.7 percent. The yen traded at 101.29 per dollar after weakening 0.4 percent on Wednesday. The S&P 500 Index climbed 0.3 percent on gains in crude prices and as corporate earnings helped boost financial shares. U.S. nonfarm payrolls data for July are due Friday.

Futures on the S&P 500 climbed 0.1 percent. The underlying measure snapped a two-day retreat on Wednesday in a late day surge as a rebound in crude oil boosted energy producers, offsetting declines in defensive shares.

Earnings season continues in Japan, with Toyota Motor Corp. scheduled to report after the market close on Thursday. Of the 256 companies that have reported earnings so far and for which Bloomberg has estimates, 54 percent have beaten analyst expectations for profit, while 58 percent fell short of predictions for sales.

Strategists and investors see the Topix rising to 1,350 by year-end, according to the median forecast in a Bloomberg News survey as of Aug. 3. The benchmark gauge has fallen 18 percent this year through Wednesday, the second-worst performer out of 24 developed markets. 

Source: Bloomberg

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U.S. Stocks Add to Monthly Gain as Alphabet Rallies on Earnings

U.S. stocks edged higher, with the S&P 500 Index capping a fifth monthly gain, after data showing the American economy grew slower than forecast last quarter gave the Federal Reserve no reason to accelerate its time table for higher interest rates. Earnings from Alphabet Inc. boosted technology shares.

The S&P 500 rose 0.2 percent to 2,173.55 at 4 p.m. in New York, closing within two points of its record. The gauge climbed 3.6 percent in July. The Dow Jones Industrial Average fell 0.1 percent to 18,432, a fifth straight loss for the longest slide since June 15. The 30-stock index rose 2.8 percent in July, a sixth consecutive advance. The Nasdaq 100 Index rose 0.2 percent Friday, leaving it 7 percent higher in the month.

The U.S. economy stumbled in the first half of 2016 as companies retrenched, leaving consumers to shoulder the burden of sustaining growth heading into the presidential election. That didn’t deter equity gains, with the S&P 500 overcoming the longest stretch without a record outside of a bear market since 1985 as central banks signaled additional stimulus and corporate earnings topped estimates.

Source : Bloomberg

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