International Finance: Asia follows Wall Street higher in risk-on rally: markets wrap

The data follows a hotter-than-expected inflation print on Tuesday and comes ahead of US employment data to be released on Thursday that is expected to show an uptick in jobless claims.

The market “is telling us maybe we can keep going as long as inflation is coming down overall and growth is solid”, Quincy Krosby, chief global strategist for LPL Financial, said in an interview with Bloomberg Television. The rally in risk assets helped propel some of the most speculative corners of the market. A Goldman Sachs Group benchmark of non-profitable tech companies rose 4.4% and is up almost 30% this year. Bitcoin rose further after jumping 8.7% on Wednesday, the most in three months, to reach the highest level since August.

“Everybody is trying to figure out whether this is going to be a once-in-a-lifetime soft landing or if it’s just taking longer before we get a panic recession,” Jerry Braakman, chief investment officer of First American Trust, said in an interview. “That’s why you’re seeing a lot of divergence between bulls and bears.”

Oil futures climbed slightly following a decline on Wednesday after EIA reported that crude inventories rose over 16 million barrels last week.revenue prediction that suggested that spending on tech infrastructure is holding up better than expected. Devon Energy fell more than 10% after fourth-quarter earnings missed estimates.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

International Finance: Asia stocks, US futures fall after hot CPI print: markets wrapAsian stocks and US equity futures fell on Wednesday as investors weighed hot American inflation data and mixed commentary from central bankers on the outlook for interest rates.
Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »

International Finance: Asian stocks rise ahead of CPI; yen gains on BOJ: markets wrapShares climbed in Asia following a rally on Wall Street as investors positioned for US inflation data after a drop in wage-growth expectations eased some of the concern over rising prices.
Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »

London stocks hit record peak, dollar drops before US inflationThe London stock market struck a record peak close to 8,000 points Tuesday on a wave of European optimism before vital US inflation data.
Источник: eNCA - 🏆 49. / 51 Прочитайте больше »

Asian stocks slip and US dollar steadies as Fed fuels rate hike worriesHigh US inflation data and comments from US central bank officials drive investor concerns over rate hikes, causing a sell-off in Asian shares and boosting the dollar
Источник: BDliveSA - 🏆 12. / 63 Прочитайте больше »

5 JSE stocks investors have eyes on right nowHere are five local stocks South African experts have chosen as their stock picks for February 2023.
Источник: BusinessTechSA - 🏆 24. / 61 Прочитайте больше »

Business Maverick: Stocks Fall on US Consumers’ Relentless Spending: Markets WrapUS equity indexes fell after data showed that US retail sales in January jumped by the most in almost two years.
Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »