Stocks Set for Gains on China Optimism, Fed Bets: Markets Wrap

-- Asian equities are set to follow Wall Street peers higher after several Federal Reserve policymakers hinted at further easing and as optimism surged that China was poised to announce stimulus measures.Belfast’s Grand Central Station Creates New Era for Northern Ireland’s Public Transport

Investors are now awaiting data on the Fed’s preferred price metric and US personal spending later this week. Neel Kashkari at the Minneapolis Fed also pointed to weakness in the job market, saying he backs lowering interest rates by another half percentage point by year end. His counterpart at the Atlanta Fed, Raphael Bostic took a moderate stance. Starting the central bank’s cutting cycle with a large step would help bring interest rates closer to neutral levels, but officials should not commit to a cadence of outsize moves, according to Bostic.

Australia is expected to remain a global outlier in the easing cycle on Tuesday. Economists see the RBA holding the cash rate at a 12-year high of 4.35% — and keeping it there until at least February. The nation’s 10-year yield dipped in early trading.Apollo Global Management Inc. has offered to make a multibillion-dollar investment in Intel Corp., according to people familiar with the matter, in a move that would be a vote of confidence in the chipmaker’s turnaround strategy.

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