Asian Stocks to Fall as US Rally Takes a Breather: Markets Wrap

-- Stocks in Asia are set to decline after a rally on Wall Street halted within striking distance of its all-time highs.Futures pointed to drops of at least 0.5% in Tokyo, Hong Kong and Sydney after the US benchmark edged lower to end an eight-day winning streak. In stark contrast to the panic selling of early August, bullishness has been in overdrive on Wall Street, with nearly $16 billion in new long bets added to S&P 500 futures just last week, according to Citigroup Inc.

In Asia, policymakers in Indonesia and Thailand are tipped to keep interest rates unchanged on Wednesday as they weigh uncertainties over political transitions while awaiting the Fed’s imminent easing. Momentum traders and a surge in corporate buybacks promise to drive a US stocks rally over the next four weeks, Goldman Sachs Group Inc.’s Scott Rubner said in a note dated Monday.

To Anthony Saglimbene at Ameriprise, continued progress on inflation, moderating but still healthy labor conditions, and economic updates that point to firm consumer trends likely allow the Fed to comfortably begin cutting its policy rate in September.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian Stocks to Track US Rally in Countdown to CPI: Markets Wrap(Bloomberg) -- Stocks in Asia are set to follow a rally on Wall Street after the latest US inflation data reinforced speculation that the Federal Reserve...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asian Stocks to Echo US Decline as Bonds Rally: Markets Wrap(Bloomberg) -- Asian equities were primed for selling Friday following declines on Wall Street that reflected unease on the health of the US economy and sent...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks lose steam after record rally, Bitcoin rejected at $61k resistanceThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Markets today: Stocks churn as rally stalls near all-time highsStocks struggled to make much headway after a rally that drove the market closer to its all-time highs, wiping out its early August losses.
Source: BNNBloomberg - 🏆 83. / 50 Read more »