Asia Stocks to Track US Rebound on Profit Optimism: Markets Wrap

-- Asian stocks were poised to follow their Wall Street peers higher after US shares rebounded from a $2 trillion selloff on optimism big tech leaders will announce hefty profits this week.Futures showed equities in Japan and Hong Kong may rise as much as 1%, while Australian shares are set to edge higher. That’s after the S&P 500 topped 5,000 — halting a six-day rout — while the Nasdaq 100 rose 1%, with Nvidia Corp. leading gains in big tech. Apple Inc.

Strategists at Wall Street’s top banks are split on whether companies can deliver on robust forecasts. While Morgan Stanley’s Michael Wilson said he expects profit growth to improve as the economy strengthens, his counterpart at JPMorgan Chase & Co., Mislav Matejka, argues that hot inflation, a stronger dollar and geopolitical tensions are clouding the outlook.

“We remain concerned about continued complacency in equity valuations, inflation staying too hot, further Fed repricing, and a profit outlook where the implied acceleration this year might end up too optimistic,” he noted. Big tech companies are running out of steam as the earnings momentum once enjoyed by the sector faces a cool down, according to UBS Group AG’s Jonathan Golub.

Kroger Co. and Albertsons Cos. agreed to divest more stores to C&S Wholesale Grocers, seeking to make their planned $24.6 billion merger more appealing to antitrust authorities.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asia Stocks to Track US Rebound on Profit Optimism: Markets WrapAsian stocks were poised to follow their Wall Street peers higher after US shares rebounded from a $2 trillion selloff on optimism big tech leaders will announce hefty profits this week.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stock market today: Stocks look to rebound with Netflix earnings on deckInvestors are counting down to earnings from Netflix, the first of the 'Magnificent' group of companies to report.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Stocks rebound as investors shake off Mideast tensions, focus on earningsWorries over the fallout from Iran's attack on Israel eased, allowing focus to return to earnings season and inflation risks to rate-cut hopes.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks rebound, AI in Big Tech, Tesla: Trading TakeawaysAfter a tumultuous start to the second quarter, stock market indices (^DJI, ^IXIC, ^GSPC) are seeing a solid day of green to kick off the trading week...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Markets today: Stocks stage rebound after worst run this yearA sense of calm returned to global financial markets, with stocks gaining as bond volatility eased after a selloff driven by bets the U.S. Federal Reserve will keep rates higher for longer.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stock market today: Asian stocks track Wall Street's decline as Middle East tensions escalateHONG KONG (AP) — Asia stocks pulled back on Monday as worries about potentially escalating tensions in the Middle East rattled financial markets, pushing...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »