Asia stocks wary; Wall St unfazed as Biden bows out

Bull statues are placed in font of screens showing the Hang Seng stock index and stock prices outside Exchange Square, in Hong KongSYDNEY - Asian shares tread cautiously on Monday ahead of a packed week of corporate earnings that should test the sky-high valuations of tech stocks, while investors hope a key reading in U.S. inflation will narrow the odds on a September rate cut.

"As Trump's polling results have lifted, markets have favoured positions that anticipate more trade barriers and possibly higher inflation," ANZ analysts said. U.S. second-quarter earnings are poised to dominate the week, with Tesla and Google-parent Alphabet kicking off the season for the "Magnificent Seven" megacap group of stocks.The tech sector is projected to increase year-over-year earnings by 17%, while profit for the communication services sector is seen rising about 22%.A busy week for economic news will culminate with the Federal Reserve's favoured inflation measure out on Friday.

The closely-watched Atlanta Fed GDPNow indicator points to growth of 2.7%, suggesting some risk to the upside. In commodity markets, gold held at $2,410 an ounce and not far from last week's record high of $2,483.60.

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.

Stock market today: Asian shares advance after Nvidia's rebound offsets weakness on Wall StBANGKOK (AP) — Asian shares are mixed after a rebound for Nvidia offset weakness on Wall Street.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian shares lower after Wall Street closes another winning weekHONG KONG (AP) — Asian shares were mostly lower Monday after U.S. stocks coasted to the close of their latest winning week on Friday, even as Nvidia ’s stock...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian shares sink, weighed down by Wall St tech retreat, China policy questionsAsian shares retreated Friday after a broad washout across Wall Street dragged U.S. stocks lower, and Hong Kong’s benchmark dipped more than 2% as investors ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian stocks mixed with volatile yen after Wall Street rises on inflation reportHONG KONG (AP) — Asian stocks were mixed Friday, with the Japanese yen losing some of its gains after the latest U.S. update on inflation bolstered Wall...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian shares mostly rise, boosted by Wall Street records as Tesla zoomsTOKYO (AP) — Asian shares were mostly higher on Wednesday after Tesla shares zoomed up more than 10%, helping to drive U.S. benchmarks to new records.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian shares are mixed after gains on Wall StreetHONG KONG (AP) — Asian stocks were mixed Tuesday after stocks advanced on Wall Street and yields jumped in the U.S. bond market as election-related issues...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »