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Business Maverick: Stocks up as traders mull China move, await Powell: markets wrap

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An Asian stock index rose on Thursday as investors evaluated China’s latest steps to shore up its economy and awaited a key speech by Federal Reserve Chair Jerome Powell about the monetary policy outlook.

due to a storm. US futures pushed higher in the wake of positive closes for the S&P 500 and Nasdaq 100.with a further 1 trillion yuan of measures for an economy stricken by property-sector woes, Covid-linked mobility curbs and some power shortages. Mainland shares erased early gains, reflecting uncertainty about whether the efforts are sufficient.

Treasuries trimmed a slide but the two-year yield remained in sight of 3.40%. A dollar gauge dipped. Crude oil added to a rally that could feed into renewed jitters about whether price pressures have peaked.

 

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