Asian Stocks to Drop as Traders Rethink Rate Cuts: Markets Wrap

-- Stocks in Asia are mostly headed for early declines after traders reassessed the path forward for interest rates, tempering the optimism linked to Wednesday’s US inflation reading.Dow Average Touches 40,000 Before Pulling Back: Markets Wrap

“There is a lot of leeway for the stock market if we do see a short-term pullback soon,” Matt Maley at Miller Tabak + Co. “Put another way, the bulls are still fully in charge right now, and so it will take a significant reversal to stem the tide of the upside momentum.” Cleveland Fed President Loretta Mester, New York Fed President John Williams and Richmond Fed President Thomas Barkin, speaking separately Thursday, argued it may take longer for inflation to reach their 2% target.

In Asia, data set for release includes home prices, industrial output and retail sales for China, gross domestic product for Malaysia and Hong Kong, and exports for Singapore.

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