-- Wall Street was buoyed by optimism surrounding a second Donald Trump term as the former US President chose his running mate days after surviving an assassination attempt. Asian stocks were set for a more muted open.Equity futures in Australia, China and Japan were steady, while contracts for Hong Kong fell. US futures edged higher in early Tuesday trading after benchmarks there climbed and traders priced a greater chance Trump will win this year’s presidential election.
Federal Reserve Chair Jerome Powell said in an interview that second-quarter economic data has provided policymakers greater confidence that inflation is heading down to the central bank’s 2% goal, possibly paving the way for near-term interest-rate cuts. He made clear he didn’t intend to send any specific message about the timing of rate reductions.
“Everyone is passing around their favorite Trump trades — but I think we’ve seen over the past century that stock market moves are more random than what a president can dictate,” said Peter Boockvar at The Boock Report. International Business Machines Corp.’s proposed $6.4 billion takeover of software maker HashiCorp Inc. will undergo an in-depth antitrust review by the US Federal Trade Commission.
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