Business Maverick: Asia extends risk-on rally into US CPI report: markets wrap

Stocks rose in Japan, Australia and Hong Kong. US futures were steady after the S&P 500 completed its best four-day surge since June on Monday following robust pre-order data for Apple’s iPhone 14 Pro Max.

The inflation report is expected to show headline CPI cooled in August to an 8% a year pace while the core measure that excludes food and energy is seen accelerating. Traders almost fully expect another jumbo-sized hike next week, following two 75-basis-point increases, taking their cue from officials supporting that view.

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