Asian stocks moved mixed on Thursday after Wall Street rallied and pushed the S&P 500 to a new record. A decline in US producer price inflation (PPI) bolstered confidence that the Fed could cut interest rates again next week. Early in the session, Australia weakened while Japan fluctuated; US futures continued to edge higher.
In the bond market, Treasuries stabilized after Wednesday's rally, while Australian and New Zealand debt strengthened. The dollar index tended to be flat and the yen strengthened against the greenback in early Asian trading—reflecting a "wait-and-see" mode ahead of tonight's CPI.
Positive sentiment was driven by the US PPI in August, which fell 0.1% month-on-month, with annual inflation at 2.6% and a cooling core. This strengthens projections for a 25 bps interest rate cut on September 17, although some market participants are still discussing the possibility of a 50 bps cut if core CPI is "below expectations," according to BMO.
Today's Asian agenda includes Australian inflation expectations and Malaysian industrial output, while the ECB is expected to hold interest rates. From a corporate perspective, Alibaba intends to raise approximately $3.17 billion through zero-coupon convertible notes—one of the largest this year—which will suppress its ADR in New York. (ayu)
Source: Newsmaker.id
US stocks moved lower on Friday, with the S&P 500 down 1% and the Nasdaq falling 1.6%, both hitting one-month lows, while the Dow Jones dropped about 400 points. The tech sector remained under he...
Gauges in Japan, South Korea and Australia all opened weaker, even as an index of the region was poised for its third gain in four weeks. The S&P 500 closed 1.7% lower while the Nas...
US stocks plunged on Thursday (November 13), with the S&P 500 falling 1.5%, the Nasdaq 1.9%, and the Dow Jones Industrial Average returning to a record high after a 1.5% decline amid a selloff in ...
Both the STOXX 50 and STOXX 600 reversed early gains and closed down 0.6% and 0.8%, respectively, on Thursday, retreating from new record highs reached earlier in the session amid downbeat corporate r...
Wall Street traders bracing for a wave of economic releases after the end of the US shutdown drove stocks lower and bond yields higher amid concern over whether the data will ...
US stocks moved lower on Friday, with the S&P 500 down 1% and the Nasdaq falling 1.6%, both hitting one-month lows, while the Dow Jones dropped about 400 points. The tech sector remained under heavy pressure as investors grew increasingly...
Oil prices climbed around 2% on Friday, boosted by supply fears after the Black Sea port of Novorossiysk halted oil exports following a Ukrainian drone attack that hit an oil depot in the major Russian energy hub. Brent crude futures were up...
The US dollar strengthened again in today's session after being pressured by news of the US government reopening and expectations that delayed economic data would show weakness. However, the increase came due to comments from Federal Reserve (The...
Fed increasingly fractured over Dec rate cut
Federal Reserve officials are growing increasingly fractured over whether to cut interest rates in...
Lawmakers returned to Washington on Tuesday (November 11th), after a 53-day recess, facing crowded airports across the country for a vote that could...
The S&P 500 rose 0.3% and the Dow Jones Industrial Average jumped 630 points to a new record high, while the Nasdaq Composite Index fell 0.3% as...
Asia-Pacific markets mostly rose Thursday, following mixed trading on Wall Street as investors kept an eye on the U.S. government, which appeared...