The Nikkei 225 inched up 4.65 points to 39,372.23 Wednesday, with technology and financials pushing the index upward even as automakers dragged it down. The broader market has gained over 0.7% in three sessions, and the index is just below 39,400 for the first time in a week.
Nissan Motor fell 0.3%, Mazda Motor dropped 0.63%, and Honda Motor slid 0.61%, all bucking the market’s modest rise. Toyota gained 0.11%, but not enough to offset the losses in the sector. Weakness in car stocks weighed on momentum, even as technology and finance firms pulled the index higher.
U.S. Markets Offer Mixed Lead
On Wall Street, the NASDAQ surged 1.77% to 20,034.89, a record close, while the S&P 500 rose 0.82%. The Dow edged lower, slipping 0.22% to 44,148.56. The positive tone was fueled by inflation data that met forecasts, which strengthened the belief that the Fed will cut rates by 25 basis points in December, with a 98.6% chance of it happening, according to the CME Group's FedWatch tool.
West Texas Intermediate crude futures rose 2.5% to $70.29 per barrel, lifted by the threat of EU sanctions against Russia, increased demand expectations from China, and higher gasoline stockpiles in the U.S. The data from the U.S.