Equities in Australia rallied the most in two weeks while Japanese and Korean shares also climbed. Futures in Hong Kong advanced and contracts for US stocks rose following gains on the S&P 500 and Nasdaq 100 on Thursday as retail sales and producer prices beat estimates. The dollar was steady while the euro remains at its lowest level in five months after the European Central Bank likely hiked for a final time and downgraded growth forecasts on Thursday.
“Risk markets are in a more buoyant mood at the end of this week, following a dovish ECB rate hike, an inline US inflation report and strong consumer spending and labour market data,” said Tony Sycamore, an analyst at IG in Sydney. “In China today, IP and Retail Sales are the key ones to keep an eye on, and given they are expected to see an improvement in both, it looks markets should remain firm into the weekend.
Meanwhile, Arm Holdings Plc surged 25% in its trading debut. Ford Motor Co. and General Motors Co. underperformed, with Detroit carmakers facing the threat of a strike. Traders also braced for Friday’s triple witching options event — which has the potential to trigger volume spikes and volatility.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asia Stocks to Track US Rally as Soft Landing Seen: Markets WrapStocks in Asia are set to follow US benchmarks higher after strong economic reports revived speculation the Federal Reserve will be able to engineer a soft landing even if it keeps interest rates higher for longer. The dollar strengthened, the euro slid and oil extended its rally.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Stocks Set for Mixed Open as CPI Signals Fed Pause: Markets Wrap(Bloomberg) -- Asian stocks are pointing to a mixed start after Wall Street largely looked through a US inflation report, reinforcing bets the Federal Reserve may pause its rate hikes but signal it’s not over yet. Most Read from BloombergChina Sows Fresh Confusion About Apple With Security RemarksCiti Plans Job Cuts as It Revamps Top Management StructureLuxury Cruise Ship Full of Australians Stuck in Greenland ArcticCaesars Entertainment Paid Millions to Hackers in AttackiPhone Pro’s Titanium Fi
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Asian shares slide after tech, rising oil prices drag Wall St lowerStocks fell Wednesday in Asia after a slide in technology stocks dragged Wall Street lower ahead of a key report on U.S. inflation. Hong Kong's Hang Seng lost 0.2% to 17,986,56 and the Shanghai Composite index sank 0.8% to 3,113.18. Japan's Nikkei 225 index shed 0.2% to 32,706.52, while the Kospi in Seoul edged 0.1% lower, to 2,533.61. Australia's S&P/ASX 200 gave up 0.7% to 7,154.60. Shares rose in India and Taiwan but fell in Southeast Asia. Regional markets have been relatively quiet ahead of
Source: YahooFinanceCA - 🏆 47. / 63 Read more »