SYDNEY - Asian stocks were steady on Monday ahead of central bank meetings that are widely expected to deliver two more rate cuts and key U.S. inflation figures that should flash a green light for more easing there.
S&P 500 futures and Nasdaq futures were both up 0.1%. The S&P is up 0.8% so far in September, historically the weakest month for stocks, and has gained 19% year-to-date to reach all-time highs. "While the move was well flagged, its importance is hard to overstate, given the Fed's role in USD liquidity conditions worldwide," said Barclays economist Christian Keller.
The coming week also includes surveys on global manufacturing, U.S. consumer confidence and durable goods. One bank not easing is the Reserve Bank of Australia which meets on Tuesday and is considered almost certain to hold at 4.35% as inflation proves stubborn. — Dániel Gazdag scored one of his two goals three minutes after Mikael Uhre found the net early in the first half and the Philadelphia Union breezed to a 4-0 victory over D.C. United on Sunday night.
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