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Stocks Gain as Inflation Feeds Rate-Cut Wagers: Markets Wrap

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Asian stocks advanced as upbeat US growth data suggested the Federal Reserve is engineering a so-called soft landing for the economy.

Catherine Bosley and Matthew Burgess -- Global stocks rose, with European markets at record highs, as signs of moderating inflation cemented expectations of interest-rate cuts across the developed world.

US equity futures also advanced, with contracts on the Nasdaq 100 adding 0.6% and the S&P 500 up 0.4%. Nvidia Corp. edged higher in premarket trading, following the previous day’s 6% drop, while other tech names, including Marvell Technology Inc. and Dell Technologies Inc. were boosted by forecast-beating results.

“Inflation is looking better and economic growth remains decent and that’s the environment we are in,” said Florian Ielpo, head of macro research at Lombard Odier Asset Management in Geneva. “Inflation is a done deal so markets are more likely to pay attention to what’s happening to employment and growth,” he added.

 

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