Asian Stocks to Track US Rally in Countdown to CPI: Markets Wrap

-- Stocks in Asia are set to follow a rally on Wall Street after the latest US inflation data reinforced speculation that the Federal Reserve will be able to start its widely anticipated monetary easing in September.Johannesburg Mayor Quits Amid Infighting, Financial Woes

To Ian Lyngen at BMO Capital Markets, there isn’t anything in Tuesday’s data suggesting the Fed will have any hesitation cutting rates next month. However, Wednesday’s “consumer inflation update is far more relevant to near-term policy expectations,” he said.The S&P 500 saw its biggest four-day rally this year. The Nasdaq 100 climbed 2.5%. Starbucks Corp. surged 25% after ousting its chief and picking Chipotle Mexican Grill Inc.’s Brian Niccol as its next leader.

In New Zealand, economists and investors are largely unsure whether the central bank will begin reversing course and cut its key rate by 25 basis points to 5.25% at its meeting on Wednesday. Oil climbed in early Asia trading, rebounding from losses on Tuesday as the prospect of a potential surplus overshadowed concern about an escalation in the Middle East conflict.US initial jobless claims, retail sales, industrial production, ThursdayS&P 500 futures were little changed; the S&P 500 rose 1.7%The yield on 10-year Treasuries declined six basis points to 3.

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