Equity futures for Hong Kong, Japan and Australia all advanced. Contracts for US stocks also rose following gains on the S&P 500 and Nasdaq 100 on Thursday as retail sales and producer prices beat estimates.
The latest data reinforces the view that the US economy is headed for a period of moderate growth, avoiding a recession over the coming 12 months, according to Solita Marcelli, chief investment officer for the Americas at UBS Global Wealth Management. Meanwhile, Arm Holdings Plc surged 25% in its trading debut. Ford Motor Co. and General Motors Co. underperformed, with Detroit carmakers facing the threat of a strike. Traders also braced for Friday’s triple witching options event — which has the potential to trigger volume spikes and volatility.