China's benchmark Shanghai Composite Index closed up 5.3 percent on Thursday, ending a six-day free fall and posting its biggest one-day gain since June. The rally in China, following a hefty rebound in U.S. stocks on Wednesday, helped lead markets higher around the world. Japan's Nikkei closed 1.1 percent higher, Hong Kong's Hang Seng jumped 2.9 percent, and Sydney's S&P ASX 200 closed up 1.2 percent. Shares on European exchanges were also up in early trading. The U.S. stock rally was attributed to comments from a Federal Reserve official suggesting the Fed won't raise interest rates in September.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Gavin Newsom mulls California redistricting to counter Texas gerrymanderingTALKING POINTS A controversial plan has become a major flashpoint among Democrats struggling for traction in the Trump era
-
6 perfect gifts for travel loversThe Week Recommends The best trip is the one that lives on and on
-
How can you get the maximum Social Security retirement benefit?the explainer These steps can help boost the Social Security amount you receive
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
