SHANGHAI - Major Asian equity indicators nudged higher on Monday as investors awaited U.S. retail sales data and corporate earnings to gauge the health of the world’s biggest economy, with markets remaining focused on a likely U.S. rate cut this month.
“We still don’t know what to expect from the U.S.-China trade war ... But there are vague expectations that Trump will be quiet during summer and the issue will be put on the back burner until near China’s National Day ,” she said. “Clearly the biggest risk to the most recent rally is the earnings season,” said Ryan Felsman, senior economist at CommSec in Sydney.
The quiet Asian trading session followed an equally subdued day on Wall Street, with the Dow Jones Industrial Average rising 0.1%, the S&P 500 gaining 0.02% and the Nasdaq Composite adding 0.17%.Ahead of the release of U.S. retail sales figures, signs of an improving economic situation in the United States have led to a steepening of the U.S. yield curve, led by higher longer-dated yields.
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