Asia-Pacific markets are primed to rise on Thursday after a soft inflation report in the U.S. helped two of the three benchmarks on Wall Street reverse course from two days of losses.
The consumer price index — a broad-based measure of costs across the U.S. economy — increased 0.2% month-on-month in February, putting the annual inflation rate at 2.8%.
Australia's S&P/ASX 20 started the day 0.20% higher, reversing course from losses in the previous two sessions.
Over in Japan, the benchmark Nikkei 225 is set to open higher, with the futures contract in Chicago at 37,035 while its counterpart in Osaka last traded at 37,000, against the index's last close of 36,819.09.
Futures for Hong Kong's Hang Seng Index stood at 23,633, pointing to a stronger open compared to the HSI's close of 23,600.31.
Overnight in the U.S., the Nasdaq Composite picked up after the soft inflation report eased concerns about a looming recession and as investors snapped up technology shares.
The tech-heavy benchmark added 1.22% and closed at 17,648.45, while the S&P 500 gained 0.49% to end at 5,599.30. The Dow Jones Industrial Average slipped 82.55 points, or 0.2%, to settle at 41,350.93.
The tech sector is off more than 3% week to date, but bounced back in the session to lead gains In the S&P 500. Top performers include Nvidia, which gained 6.4%, and AMD which added more than 4%. Meanwhile, Meta Platforms advanced 2% and Tesla jumped more than 7%.
Source: CNBC
That the US and China were nearing a trade deal triggered a cross-asset rally, lifting stocks, oil and copper along with China-exposed currencies such as the Australian dollar. Treasuries an...
Three major US indexes closed at new record highs after a lower-than-expected inflation report raised the possibility of a Federal Reserve interest rate cut later this year and prompted investors to s...
European stocks closed slightly higher on Friday amid a mix of corporate earnings reports, while markets assessed the outlook for European growth and interest rates. The STOXX 50 edged up to 5,674, an...
European stocks edged lower Friday afternoon after briefly hitting record intraday highs, as investors digested corporate earnings and economic data amid hopes that US–China trade tensions may ease wh...
U.S. stocks reached new heights on Friday as cool inflation data raised investors' optimism that the Federal Reserve can stay on its rate-cutting path, boosting the economy and justifying higher valua...
Gold is under pressure again as global markets enter risk-on mode. Signals of peace on the US-China trade front have reduced investors' need for safe haven assets, leading to a correction in gold prices after a major rally. However, this is more of...
That the US and China were nearing a trade deal triggered a cross-asset rally, lifting stocks, oil and copper along with China-exposed currencies such as the Australian dollar. Treasuries and gold dropped. Asian shares rose...
Japanese stocks are expected to continue strengthening due to a combination of two factors favored by the market: a weakening yen and expectations of economic stimulus from Prime Minister Sanae Takaichi's government. Nikkei futures traded on the...
Business activity in the United States' (US) private sector expanded at a healthy pace in October, with the S&P Global Composite Purchasing...
European stocks edged lower Friday afternoon after briefly hitting record intraday highs, as investors digested corporate earnings and economic data...
European stocks closed slightly higher on Friday amid a mix of corporate earnings reports, while markets assessed the outlook for European growth...
U.S. stocks reached new heights on Friday as cool inflation data raised investors' optimism that the Federal Reserve can stay on its rate-cutting...