The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses.Marketsread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting 1 in every...Biotech and Pharmaceuticalsread more
SpaceX has raised just over $1 billion in financing since the beginning of the year.Investing in Spaceread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
Apple bought Tueo Health, which was developing tech to help parents monitor asthma symptoms in children, using a mobile app and commercial breathing sensors.Technologyread more
United Airlines will take its 14 Boeing 737 Max jets off its schedule for another month, through Aug. 3, canceling another 1,290 flights.Airlinesread more
Trade could be a big factor for markets in the week ahead, but investors will also be attuned to fresh inflation data and the bond market, which is flashing new worries about...Market Insiderread more
Mississippi is one of several states that have moved to pass new restrictions on abortion this year.Politicsread more
* Nikkei up 1.59%, could post small weekly gains
* Sony jumps 10% on share buyback, Microsoft partnership
* Communication equipment makers gain on rally in U.S. peers
* Investors look to Monday's GDP, sales tax debate
TOKYO, May 17 (Reuters) - Japan's Nikkei share average jumped on Friday and looked set to end the week with a slight gain, led by rallies in Sony and technology shares, though concerns about U.S.-China tensions kept many investors cautious.
The Nikkei rose 1.56% to 21,391 points by midday. For the week, it was on track to add 0.2 percent.
The broader Topix rose 1.59% to 1,561.94, up 0.8% so far this week.
The rally was led by electric machinery and precision machinery makers, which both rose more than 2%.
Sony jumped 9.9% after it announced a share buyback and strategic partnership with Microsoft Corp on areas such as streaming games, media and new image sensors.
Softbank Group, a major investor in a whole gamut of U.S. tech firms, gained 3.9%.
Some communication equipment manufacturers rose after upbeat earnings boosted Cisco 6.6%, helping to drive up the Nasdaq Telecommunication index 4.2%, the second biggest gain in the past four years.
Some market players suspect those shares were helped by speculation of possible windfalls from Washington's tough stance on China's Huawei, their strongest rival.
NEC rose 3.1% while Fujitsu gained 1.7%. On the other hand, Murata Manufacturing, a Huawei supplier, extended losses, falling 0.6%. Murata has plunged 19% so far this month.
"I think Japanese share markets will remain capped for now, given the perception that (they) will be susceptible to foreign demand and vulnerable to trade tensions," said Hiroyuki Ueno, senior strategist at Sumitomo Mitsui Trust Asset Management.
Investors also looked to Japan's GDP data due on Monday, which is expected to show the country's economy contracted in the first three months of this year and could prod the government to delay a sales tax hike slated for October.
Japanese corporate earnings have been weaker than expectations as the economy has stagnated.
A case in point was brokerage shares index, which hit its lowest level since August 2016 before recovering to positive territory.
Industry leader Nomura Holdings also hit near-three-year low and last stood up 0.1 percent. (Editing by Kim Coghill)