Stock market today: Tokyo gains, most Asian markets closed

Shares have advanced in Tokyo and Sydney while most Asian markets were closed for May 1 holidays. U.S. futures edged lower as traders awaited a decision by U.S. regulators on what to do with troubled First Republic Bank. If it collapses it would be the third midsize bank to fail in two months after the failure of Silicon Valley Bank in early March. Wall Street ended April with gains Friday as more companies said their profits at the start of the year weren’t as bad as expected. The S&P 500 rose 0.8% Friday and the Dow also registered a 0.8% gain. Investors are wary over what may lie ahead for the U.S. economy and interest rates.