Asian Stocks to Rise, Jobs Data Fuels Wall Street: Markets Wrap

-- Asian stocks were primed for gains Friday after an upbeat day on Wall Street following jobs data that supported the case for Federal Reserve rate cuts this year.Marjorie Taylor Greene Finally Got What She Deserved: Defeat

“Time will tell whether it’s a one-off or part of a genuine cooldown in the labor market,” said Chris Larkin at E*Trade from Morgan Stanley. “Investors may have adjusted to the idea of the Fed waiting until September to cut interest rates, but that doesn’t mean they’re comfortable waiting indefinitely.”

Data set for release in Asia Friday includes household spending and current account balance figures for Japan, industrial output for India, and the first-quarter current account balance for China. New loans and money supply data for China may also be released as early as today.Oil gained for a second day on Thursday as key technical levels provided a floor for losses while investors digested a mixed US inventories report. Gold jumped more than 1% to $2,346 per ounce on Thursday.

“We see a deceleration of growth,” Gray said at the Macquarie Australia Conference in Sydney on Thursday. “Central banks will be slow on the cutting of rates, because they don’t want to see a rise of inflation,” he said. “The Fed will be patient, they’ll have the opportunity to cut once this year,” he added.

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