Market Update
U.S. Indexes Struggled to Advance as Oil Traded at 6-Week High and Bond Yields Climbed Higher
Barry Adams
08 Sep, 2026
New York City
U.S. stocks traded down at the start of the holiday-shortened week amid resurgent crude oil prices and escalating trade tensions between the U.S. and Canada.
The S&P 500 Index decreased 0.4%, the tech-heavy Nasdaq Composite declined 0.3%, and the yield on 10-year U.S. Treasury notes inched higher to 4.80%.
West Texas Intermediate crude oil prices per barrel jumped 2.6% to $93.56, and Brent crude edged up 1.3% to $98.44.
The state-controlled Saudi Press Agency reported attacks halted operations at several energy facilities in the south of the Kingdom.
Iran-backed Houthi militants claimed responsibility for targeting the 400,000 barrel-per-day Jazan refinery and other facilities and launching attacks on several Saudi cities.
Despite the U.S. president's often repeated claims that Iran's economy has been "permanently ruined to the stone age," the Islamic Republic has continued to disrupt shipping through the Strait of Hormuz, the critical artery for global oil and energy products.
Crude oil prices rose to six-week highs amid prolonged disruptions of trade through the Strait of Hormuz, pushing the yield on a 10-year Treasury note to the highest since November 2023.
On the economic front, investors are awaiting the data on wholesale inflation on Thursday and consumer inflation on Friday, and the Federal Reserve is scheduled to hold its policy meeting next week.
The U.S. president threatened to halt all sales from Canada-based Bombardier as Canada imposed a retaliatory tariff on about $20 billion of U.S. goods effective Tuesday.
In Asia, markets in Japan fell 1.7%, benchmark indexes in China decreased 0.4%, and Hong Kong fell 0.35%.
European indexes retreated on Tuesday; benchmark indexes in Frankfurt decreased 0.4%, in Paris declined 0.2%, but in London rose 0.1%.
U.S. Movers
Novartis AG plunged 12.5% to $139.96 after the Swiss pharma company said its del-desiran drug for muscle wasting disorder failed in a late-stage trial.
The company's shares suffered its worst one-day decline after the pharmaceutical developer experienced its third drug trial setback in a week.
Wistron Corp. dropped 5.2% to NT $186.50 after the Nvidia supplier priced its global depository receipt to finance raw materials purchases.
On Monday, the company priced 250 million new common shares at about NT $186.24 each, representing about 7.29% of outstanding shares before the issuance.
The company priced its offering at a 5.5% discount to its Monday closing price of NT $197.
Japan's Real Wages Increased Seventh Consecutive Month In July, Second-Quarter GDP Growth Revised Higher
Akira Ito
08 Sep, 2026
Tokyo
Japan's indexes advanced in listless trading on Tuesday, as a stronger yen weighed on the market sentiment.
The Nikkei 225 Stock Average increased 0.3%, the broader TOPIX decreased 0.6%, and the yen traded at a seven-month high of 153.44 against the U.S. dollar.
A stronger yen weighs on earnings prospects of Japan's export-driven industries while making Japanese assets more expensive for foreign investors.
Investors factored in a rate hike at the mid-September meeting after July's nominal wages rose at the fastest pace since 1997 and Japan's second-quarter GDP was revised slightly higher.
However, elevated crude oil prices following renewed U.S.-Iran fighting kept inflation risks and interest rate concerns firmly in focus.
Japan's Second-Quarter GDP Growth Revised Higher
Japan's second-quarter GDP growth was revised higher to 0.4% from the previous estimate of a rise of 0.3%, according to a report released by the Cabinet Office.
The economic expansion from the previous quarter was driven by an upward revision in government spending to 1.7% from the previous estimate of 1.6% and a smaller decline in business estimates of 0.9% from the previous estimate of a decline in 1.2%.
Japan's Nominal Wage Growth Streak Extended In July to Longest in 34 Years
Japan's real wages advanced for the seventh consecutive month in July, driven by higher summer bonuses, government data showed.
Nominal wages per worker, including base and overtime pay, increased 4.7% to 436,401 yen, or $2,830, the Ministry of Health, Labor and Welfare said.
Nominal wages rose more than 3% for the sixth consecutive month, marking the longest such streak in more than 34 years.
Real wages, after adjusting for inflation, expanded for the seventh month in a row and marked the longest positive streak since February 2021.
Nominal wage growth was supported by a 6.3% rise in special earnings to 134,819 yen, as labor unions demanded a higher share of elevated corporate profits.
Japan's real wages advanced for the seventh consecutive month in July, after falling in the previous 12 consecutive months.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.3% to 66,611.43, and the broader TOPIX fell 0.6% to 4,103.11.
AI- and semiconductor-linked stocks dominated in Tuesday's trading in Tokyo.
Fujikura Ltd. increased 1.2% to ¥5,306.0, Advantest Corp. gained 2.8% to ¥35,450.0, Tokyo Electron decreased 0.2% to ¥55,720.0, and SoftBank Group advanced 6.8% to ¥6,643.0.
Taiyo Yuden dropped 5.2% to ¥9,319.0, Ibiden Co. fell 1.9% to ¥21,795.0, and Murata Manufacturing decreased 4.8% to ¥7,252.0.
Japan's Real Wages Increased Seventh Consecutive Month In July, Second-Quarter GDP Growth Revised Higher
Akira Ito
08 Sep, 2026
Tokyo
Japan's indexes advanced in listless trading on Tuesday, as a stronger yen weighed on the market sentiment.
The Nikkei 225 Stock Average increased 0.3%, the broader TOPIX decreased 0.6%, and the yen traded at a seven-month high of 153.44 against the U.S. dollar.
A stronger yen weighs on earnings prospects of Japan's export-driven industries while making Japanese assets more expensive for foreign investors.
Investors factored in a rate hike at the mid-September meeting after July's nominal wages rose at the fastest pace since 1997 and Japan's second-quarter GDP was revised slightly higher.
However, elevated crude oil prices following renewed U.S.-Iran fighting kept inflation risks and interest rate concerns firmly in focus.
Japan's Second-Quarter GDP Growth Revised Higher
Japan's second-quarter GDP growth was revised higher to 0.4% from the previous estimate of a rise of 0.3%, according to a report released by the Cabinet Office.
The economic expansion from the previous quarter was driven by an upward revision in government spending to 1.7% from the previous estimate of 1.6% and a smaller decline in business estimates of 0.9% from the previous estimate of a decline in 1.2%.
Japan's Nominal Wage Growth Streak Extended In July to Longest in 34 Years
Japan's real wages advanced for the seventh consecutive month in July, driven by higher summer bonuses, government data showed.
Nominal wages per worker, including base and overtime pay, increased 4.7% to 436,401 yen, or $2,830, the Ministry of Health, Labor and Welfare said.
Nominal wages rose more than 3% for the sixth consecutive month, marking the longest such streak in more than 34 years.
Real wages, after adjusting for inflation, expanded for the seventh month in a row and marked the longest positive streak since February 2021.
Nominal wage growth was supported by a 6.3% rise in special earnings to 134,819 yen, as labor unions demanded a higher share of elevated corporate profits.
Japan's real wages advanced for the seventh consecutive month in July, after falling in the previous 12 consecutive months.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.3% to 66,611.43, and the broader TOPIX fell 0.6% to 4,103.11.
AI- and semiconductor-linked stocks dominated in Tuesday's trading in Tokyo.
Fujikura Ltd. increased 1.2% to ¥5,306.0, Advantest Corp. gained 2.8% to ¥35,450.0, Tokyo Electron decreased 0.2% to ¥55,720.0, and SoftBank Group advanced 6.8% to ¥6,643.0.
Taiyo Yuden dropped 5.2% to ¥9,319.0, Ibiden Co. fell 1.9% to ¥21,795.0, and Murata Manufacturing decreased 4.8% to ¥7,252.0.
Elevated Demand for Renewable Energy and AI Products Supported China's Export Growth In August
Li Chen
08 Sep, 2026
Hong Kong
China's indexes rebounded from the morning's doldrums after the release of international trade data and renewed trade tensions between China and Japan.
The Hang Seng Index declined 0.4%, and the mainland-focused CSI 300 Index edged up 0.07% amid tempered risk appetite.
China's Trade Surplus Widened in August
China's international trade surplus widened in August after exports and imports advanced, the General Administration of Customs reported on Tuesday.
Exports increased 25% to $401.1 billion, and imports advanced 28.2% to $282.4 billion, resulting in a trade surplus widening by 18% to $119.1 billion from a year ago.
China's direct surplus with the U.S. expanded to $29.2 billion from $28.0 billion in July, buoyed by strong demand for artificial intelligence infrastructure-related products and pre-Christmas orders.
China's export sector has benefitted from the global boom for AI infrastructure and renewable energy products, including batteries and solar panels.
Exports to the members of the Association of Southeast Asian Nations surged 30.2%, and to the European Union advanced 6.6% from the previous year, respectively.
In the first eight months of 2026, China's trade surplus expanded to $805.5 billion from $785.3 billion, driven by a 19.3% rise in exports and a 27% surge in imports from a year ago, respectively.
Beijing announced preliminary anti-dumping measures on Japanese imports of chemicals used in semiconductor production, a retaliatory measure in the ongoing Taiwan-linked dispute between China and Japan.
China Indexes and Stocks
The Hang Seng Index decreased 0.4% to 25,310.17, and the mainland-focused CSI 300 Index edged up 0.1% to 4,578.15.
Technology stocks led gainers in choppy trading on Tuesday.
CATL declined 2.5% to HK $558.0, SMIC decreased 1.9% to HK $67.0, and Eoptolink Technology advanced 1.9% to ¥425.0.
Elevated Demand for Renewable Energy and AI Products Supported China's Export Growth In August
Li Chen
08 Sep, 2026
Hong Kong
China's indexes rebounded from the morning's doldrums after the release of international trade data and renewed trade tensions between China and Japan.
The Hang Seng Index declined 0.4%, and the mainland-focused CSI 300 Index edged up 0.07% amid tempered risk appetite.
China's Trade Surplus Widened in August
China's international trade surplus widened in August after exports and imports advanced, the General Administration of Customs reported on Tuesday.
Exports increased 25% to $401.1 billion, and imports advanced 28.2% to $282.4 billion, resulting in a trade surplus widening by 18% to $119.1 billion from a year ago.
China's direct surplus with the U.S. expanded to $29.2 billion from $28.0 billion in July, buoyed by strong demand for artificial intelligence infrastructure-related products and pre-Christmas orders.
China's export sector has benefitted from the global boom for AI infrastructure and renewable energy products, including batteries and solar panels.
Exports to the members of the Association of Southeast Asian Nations surged 30.2%, and to the European Union advanced 6.6% from the previous year, respectively.
In the first eight months of 2026, China's trade surplus expanded to $805.5 billion from $785.3 billion, driven by a 19.3% rise in exports and a 27% surge in imports from a year ago, respectively.
Beijing announced preliminary anti-dumping measures on Japanese imports of chemicals used in semiconductor production, a retaliatory measure in the ongoing Taiwan-linked dispute between China and Japan.
China Indexes and Stocks
The Hang Seng Index decreased 0.4% to 25,310.17, and the mainland-focused CSI 300 Index edged up 0.1% to 4,578.15.
Technology stocks led gainers in choppy trading on Tuesday.
CATL declined 2.5% to HK $558.0, SMIC decreased 1.9% to HK $67.0, and Eoptolink Technology advanced 1.9% to ¥425.0.
Elevated Energy Prices and Rising Bond Yields Stoke Volatility in Market Averages
Barry Adams
07 Sep, 2026
New York City
U.S. indexes are likely to face volatile trading in a truncated week amid weakening global sentiment and renewed fighting in the Middle East.
Investors are set to return on Tuesday after a three-day weekend, as tech stocks rebounded in the previous month amid sustained positive sentiment towards the sector.
Elevated bond yields weighed on major indexes last week, and renewed U.S.-Iran tensions and rising oil prices hurt investor sentiment.
The U.S. indexes closed higher later in the week, led by gains in the S&P 500 Index and NASDAQ Composite Index following strong tech earnings and market reactions, and rate-hike fears eased.
For the week, the S&P 500 index increased 0.4%, and the Nasdaq Composite advanced 0.6%.
In August-to-date, the S&P 500 Index edged up 3%, and the Nasdaq Composite advanced 4%, as investors shifted their focus to quarterly results.
Nvidia advanced 8%, Microsoft gained 11%, Micron Technology jumped 13%, and SanDisk soared 22%.
Rapidly cooling sentiment in the global bond market muted gains in tech-dominated stock trading as investors demand higher premiums to hold U.S. Treasuries.
Global markets experienced a sharp bond sell-off and rising energy prices this week, driven by escalating U.S.-Iran geopolitical tensions and persistent inflation concerns.
Government bond yields hovered near multi-decade and multi-year highs worldwide as investors braced for prolonged borrowing costs.
Global Treasury yields and crude oil prices eased from their recent highs, providing a much-needed breather for investors, but market sentiment remained cautious.
Despite the slight easing of bond yields, investors remained concerned over rapidly rising U.S. federal government debt, which has now surpassed $40 trillion and is growing by one trillion dollars every 100 days.
U.S. Job Growth Accelerated Sharply in August
However, broader markets remain under pressure by stronger-than-expected U.S. jobs data that supported the case for a Federal Reserve rate hike later this month.
The U.S. economy added 162,000 jobs in August, and the unemployment rate remained steady at 4.1%, said the Bureau of Labor Statistics.
The August job growth beat expectations and ended a slow summer for hiring.
July was revised upward to a gain of 21,000 jobs instead of a loss, and June was revised up to 31,000.
U.S. wage growth was 3.1% from a year ago in August, remaining unchanged from July according to the U.S. Bureau of Labor Statistics employment report.
U.S. wages reached an average hourly earnings rate of $37.75, while continuing to lag behind broader cost-of-living increases.
Rising oil prices (with Brent crude trading near $95 per barrel) have increased vulnerability for real wages, as higher costs for food, transportation, and housing erase most of the wage gains.
The stronger-than-expected data eased immediate concerns over a summer economic slowdown while giving the Federal Reserve complex data to weigh regarding future interest rate decisions.
U.S. Movers
Lululemon plunged 17.2% to $100.61 in Friday's trading after the company announced fiscal second-quarter results.
Revenue decreased 4% to $2.4 billion from $2.5 billion, net income fell to $329.2 million from $370.0 million, and diluted earnings per share fell to $2.92 from $3.10 a year ago.
The diluted earnings per share includes $0.86 per share related to tariff refunds and associated interest, net of tax.
Net revenues decreased 8%, and comparable sales fell 12% in the Americas, but net revenues rose 4%, and comparable sales fell 3% in international markets, respectively.
Operating margin decreased by 190 basis points to 18.8%, despite the tariff refunds of $134.5 million lifting the margin by 560 basis points.
Global comparable sales decreased 10% on a constant dollar basis, severely impacted by a 12% drop in the Americas, marking a sharp decline from past historical growth trends.
Sales of Lululemon's core women's leggings category plummeted by approximately 20% during the quarter, indicating declining product relevance and intense new competition.
Management sharply reduced its fiscal full-year revenue outlook to a range of $10.35 billion to $10.5 billion and slashed full-year EPS guidance to $9.48 to $9.73, citing traffic pressure and brand sentiment headwinds.
Elevated Energy Prices and Rising Bond Yields Stoke Volatility in Market Averages
Barry Adams
07 Sep, 2026
New York City
U.S. indexes are likely to face volatile trading in a truncated week amid weakening global sentiment and renewed fighting in the Middle East.
Investors are set to return on Tuesday after a three-day weekend, as tech stocks rebounded in the previous month amid sustained positive sentiment towards the sector.
Elevated bond yields weighed on major indexes last week, and renewed U.S.-Iran tensions and rising oil prices hurt investor sentiment.
The U.S. indexes closed higher later in the week, led by gains in the S&P 500 Index and NASDAQ Composite Index following strong tech earnings and market reactions, and rate-hike fears eased.
For the week, the S&P 500 index increased 0.4%, and the Nasdaq Composite advanced 0.6%.
In August-to-date, the S&P 500 Index edged up 3%, and the Nasdaq Composite advanced 4%, as investors shifted their focus to quarterly results.
Nvidia advanced 8%, Microsoft gained 11%, Micron Technology jumped 13%, and SanDisk soared 22%.
Rapidly cooling sentiment in the global bond market muted gains in tech-dominated stock trading as investors demand higher premiums to hold U.S. Treasuries.
Global markets experienced a sharp bond sell-off and rising energy prices this week, driven by escalating U.S.-Iran geopolitical tensions and persistent inflation concerns.
Government bond yields hovered near multi-decade and multi-year highs worldwide as investors braced for prolonged borrowing costs.
Global Treasury yields and crude oil prices eased from their recent highs, providing a much-needed breather for investors, but market sentiment remained cautious.
Despite the slight easing of bond yields, investors remained concerned over rapidly rising U.S. federal government debt, which has now surpassed $40 trillion and is growing by one trillion dollars every 100 days.
U.S. Job Growth Accelerated Sharply in August
However, broader markets remain under pressure by stronger-than-expected U.S. jobs data that supported the case for a Federal Reserve rate hike later this month.
The U.S. economy added 162,000 jobs in August, and the unemployment rate remained steady at 4.1%, said the Bureau of Labor Statistics.
The August job growth beat expectations and ended a slow summer for hiring.
July was revised upward to a gain of 21,000 jobs instead of a loss, and June was revised up to 31,000.
U.S. wage growth was 3.1% from a year ago in August, remaining unchanged from July according to the U.S. Bureau of Labor Statistics employment report.
U.S. wages reached an average hourly earnings rate of $37.75, while continuing to lag behind broader cost-of-living increases.
Rising oil prices (with Brent crude trading near $95 per barrel) have increased vulnerability for real wages, as higher costs for food, transportation, and housing erase most of the wage gains.
The stronger-than-expected data eased immediate concerns over a summer economic slowdown while giving the Federal Reserve complex data to weigh regarding future interest rate decisions.
U.S. Movers
Lululemon plunged 17.2% to $100.61 in Friday's trading after the company announced fiscal second-quarter results.
Revenue decreased 4% to $2.4 billion from $2.5 billion, net income fell to $329.2 million from $370.0 million, and diluted earnings per share fell to $2.92 from $3.10 a year ago.
The diluted earnings per share includes $0.86 per share related to tariff refunds and associated interest, net of tax.
Net revenues decreased 8%, and comparable sales fell 12% in the Americas, but net revenues rose 4%, and comparable sales fell 3% in international markets, respectively.
Operating margin decreased by 190 basis points to 18.8%, despite the tariff refunds of $134.5 million lifting the margin by 560 basis points.
Global comparable sales decreased 10% on a constant dollar basis, severely impacted by a 12% drop in the Americas, marking a sharp decline from past historical growth trends.
Sales of Lululemon's core women's leggings category plummeted by approximately 20% during the quarter, indicating declining product relevance and intense new competition.
Management sharply reduced its fiscal full-year revenue outlook to a range of $10.35 billion to $10.5 billion and slashed full-year EPS guidance to $9.48 to $9.73, citing traffic pressure and brand sentiment headwinds.
AI- and Memory-Linked Stocks Supported 2% Rise In Nikkei 225, Yen Held Recent Gains
Akira Ito
07 Sep, 2026
Tokyo
Japan's indexes soared, with Japanese shares advancing for a second consecutive session as technology- and AI-linked stocks outperformed.
The Nikkei 225 Stock Average increased 2% to 66,328.44, and the broader TOPIX advanced 0.5% to 4,124.36.
Market averages in Tokyo headed higher, tracking gains in chipmakers and memory stocks in overnight trading in New York on Friday amid improving sentiment toward the sector.
However, broader markets remain under pressure by stronger-than-expected U.S. jobs data that supported the case for a Federal Reserve rate hike later this month.
The U.S. economy added 162,000 jobs in August, and the unemployment rate remained steady at 4.1%, said the Bureau of Labor Statistics.
The August job growth beat expectations and ended a slow summer for hiring.
July was revised upward to a gain of 21,000 jobs instead of a loss, and June was revised up to 31,000.
U.S. wage growth was 3.1% from a year ago in August, remaining unchanged from July according to the U.S. Bureau of Labor Statistics employment report.
U.S. wages reached an average hourly earnings rate of $37.75, while continuing to lag behind broader cost-of-living increases.
Rising oil prices (with Brent crude trading near $95 per barrel) have increased vulnerability for real wages, as higher costs for food, transportation, and housing erase most of the wage gains.
The stronger-than-expected data eased immediate concerns over a summer economic slowdown while giving the Federal Reserve complex data to weigh regarding future interest rate decisions.
Japan Indexes and Stocks
The Nikkei 225 Stock Average rose 1.9% to 66,233.0, and the broader TOPIX increased 0.4% to 4,118.43.
Kioxia Holdings soared 8.5% to ¥59,080.0, Advantest Corp. gained 3.5% to ¥34,370.0, Fujikura Ltd. increased 3.6% to ¥5,235.0, Tokyo Electron added 4.4% to ¥55,640.0, and SoftBank Group jumped 9.9% to ¥6,145.0.
Mitsubishi UFJ Financial Group declined 1.8% to ¥3,718.0, Sumitomo Mitsui Financial Group decreased 1.4% to ¥6,973.0, and Mizuho Financial Group fell 0.8% to ¥6,973.0.
AI- and Memory-Linked Stocks Supported 2% Rise In Nikkei 225, Yen Held Recent Gains
Akira Ito
07 Sep, 2026
Tokyo
Japan's indexes soared, with Japanese shares advancing for a second consecutive session as technology- and AI-linked stocks outperformed.
The Nikkei 225 Stock Average increased 2% to 66,328.44, and the broader TOPIX advanced 0.5% to 4,124.36.
Market averages in Tokyo headed higher, tracking gains in chipmakers and memory stocks in overnight trading in New York on Friday amid improving sentiment toward the sector.
However, broader markets remain under pressure by stronger-than-expected U.S. jobs data that supported the case for a Federal Reserve rate hike later this month.
The U.S. economy added 162,000 jobs in August, and the unemployment rate remained steady at 4.1%, said the Bureau of Labor Statistics.
The August job growth beat expectations and ended a slow summer for hiring.
July was revised upward to a gain of 21,000 jobs instead of a loss, and June was revised up to 31,000.
U.S. wage growth was 3.1% from a year ago in August, remaining unchanged from July according to the U.S. Bureau of Labor Statistics employment report.
U.S. wages reached an average hourly earnings rate of $37.75, while continuing to lag behind broader cost-of-living increases.
Rising oil prices (with Brent crude trading near $95 per barrel) have increased vulnerability for real wages, as higher costs for food, transportation, and housing erase most of the wage gains.
The stronger-than-expected data eased immediate concerns over a summer economic slowdown while giving the Federal Reserve complex data to weigh regarding future interest rate decisions.
Japan Indexes and Stocks
The Nikkei 225 Stock Average rose 1.9% to 66,233.0, and the broader TOPIX increased 0.4% to 4,118.43.
Kioxia Holdings soared 8.5% to ¥59,080.0, Advantest Corp. gained 3.5% to ¥34,370.0, Fujikura Ltd. increased 3.6% to ¥5,235.0, Tokyo Electron added 4.4% to ¥55,640.0, and SoftBank Group jumped 9.9% to ¥6,145.0.
Mitsubishi UFJ Financial Group declined 1.8% to ¥3,718.0, Sumitomo Mitsui Financial Group decreased 1.4% to ¥6,973.0, and Mizuho Financial Group fell 0.8% to ¥6,973.0.
AI- and Memory-Linked Stocks Supported 2% Rise In Nikkei 225, Yen Held Recent Gains
Akira Ito
07 Sep, 2026
Tokyo
AI- and Memory-Linked Stocks Supported 2% Rise In Nikkei 225, Yen Held Recent Gains
Akira Ito
07 Sep, 2026
Tokyo
Japan's indexes soared, with Japanese shares advancing for a second consecutive session as technology- and AI-linked stocks outperformed.
The Nikkei 225 Stock Average increased 2% to 66,328.44, the broader TOPIX advanced 0.5% to 4,124.36, and the yen strengthened 0.3% to 155.80 against the U.S. dollar.
Market averages in Tokyo headed higher, tracking gains in chipmakers and memory stocks in overnight trading in New York on Friday amid improving sentiment toward the sector.
However, broader markets remain under pressure by stronger-than-expected U.S. jobs data that supported the case for a Federal Reserve rate hike later this month.
The U.S. economy added 162,000 jobs in August, and the unemployment rate remained steady at 4.1%, said the Bureau of Labor Statistics.
The August job growth beat expectations and ended a slow summer for hiring.
July was revised upward to a gain of 21,000 jobs instead of a loss, and June was revised up to 31,000.
Job growth was heavily driven by local government education and food services and drinking places, while the information industry saw a decrease in jobs over the month.
U.S. wage growth was 3.1% from a year ago in August, remaining unchanged from July according to the U.S. Bureau of Labor Statistics employment report.
U.S. wages reached an average hourly earnings rate of $37.75, while continuing to lag behind broader cost-of-living increases.
Rising oil prices (with Brent crude trading near $95 per barrel) have increased vulnerability for real wages, as higher costs for food, transportation, and housing erase most of the wage gains.
The stronger-than-expected data eased immediate concerns over a summer economic slowdown while giving the Federal Reserve complex data to weigh regarding future interest rate decisions.
Japan Indexes and Stocks
The Nikkei 225 Stock Average rose 1.9% to 66,233.0, and the broader TOPIX increased 0.4% to 4,118.43.
Kioxia Holdings soared 8.5% to ¥59,080.0, Advantest Corp. gained 3.5% to ¥34,370.0, Fujikura Ltd. increased 3.6% to ¥5,235.0, Tokyo Electron added 4.4% to ¥55,640.0, and SoftBank Group jumped 9.9% to ¥6,145.0.
Mitsubishi UFJ Financial Group declined 1.8% to ¥3,718.0, Sumitomo Mitsui Financial Group decreased 1.4% to ¥6,973.0, and Mizuho Financial Group fell 0.8% to ¥6,973.0.