Asian Stocks Under Pressure Ahead of Fed Decision: Markets Wrap

-- Most Asian stocks were poised for declines early Tuesday following a mixed session on Wall Street where traders boosted bets the Federal Reserve will this week deliver a half-point rate cut.Futures showed Tokyo’s equity benchmark will dip after being closed Monday, with Hong Kong also slipping and Sydney gaining. Markets in China and South Korea will remain shut for public holidays. US contracts were steady after the S&P 500 closed 0.1% higher and the Nasdaq 100 slid 0.

“We’re getting a rate cut of some sort this week absent an act of God,” said Callie Cox at Ritholtz Wealth Management. “The economic impact of one rate cut – regardless of whether it’s 25 or 50 basis points – will likely be insignificant. The path and degree of cuts over the next year or so matters the most.”

In Asia, where markets in Indonesia and Malaysia will also reopen after being shut Monday, concern is growing about the strength of China’s economy. Disappointing economic data over the weekend is adding pressure on the authorities to ramp up fiscal and monetary stimulus if the nation is to reach this year’s growth target.

In the US, the S&P 500’s equal-weighted version — one that gives Target Corp. as much clout as Microsoft — hit a record high on hopes the rally will broaden out. Technology giants like Nvidia Corp. and Microsoft have led gains in equities for much of the last two years, with investors attracted to their booming profits and exposure to artificial intelligence.

Nolte says that over the past three to six months, the spread between the high flying technology sector and the average stock was large as early 2000. Alcoa Corp. will receive $1.1 billion in cash and stock in Saudi Arabian Mining Co. as part of a deal that will involve the Pittsburgh-based firm selling its stake in two metals plants in northern Saudi Arabia.

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.

Asian stocks mixed after Wall Street extends losses as technology and energy stocks fallHONG KONG (AP) — Asian markets were mixed Thursday following a global sell-off a day earlier, as Wall Street declined in the technology, energy and other...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asian Stocks Set to Slide as Nvidia Disappoints: Markets Wrap(Bloomberg) -- Stocks in Asia slipped as Nvidia Corp. earnings lacked the wow factor to impress investors, while Chinese results helped extend a selloff in...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asian Stocks Set to Fall as Tech Drags Wall Street: Markets Wrap(Bloomberg) -- Asian equities are poised to come under pressure Tuesday after technology stocks dragged down Wall Street as traders repositioned ahead of...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Indonesia, Malaysia Are Outliers as Foreigners Sell Asian Stocks(Bloomberg) -- Equities in Indonesia and Malaysia are standing out as bright spots in Asia this month as global investors trim their exposure to almost every...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asian Stocks to Slip as US Holds Breath for Nvidia: Markets Wrap(Bloomberg) -- Stocks in Asia are set to edge lower after a sluggish day on Wall Street, as traders look to Nvidia Corp.’s results for clues on whether the...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asian Stocks Set to Drop After Jobs Data, Fedspeak: Markets Wrap(Bloomberg) -- Asian stocks are set to drop after mixed US jobs data and a noncommittal Federal Reserve added to concerns the central bank may have waited...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »