Asian Stocks to Follow US Rally With Focus on CPI: Markets Wrap

-- Stocks in Asia are poised to follow a big tech-led rally in US benchmarks, as investors look to key inflation data later Wednesday for clues on the Federal Reserve’s next steps.Macron Puts French Banks in Play With Plan to Transform Europe

A survey conducted by 22V Research showed 49% of investors expect the market reaction to the CPI report to be “risk-on” — while only 27% said “risk-off.” Meanwhile, China blasted the Biden administration’s move to increase US tariffs on a wide range of Chinese imports, vowing to take its own action, without giving specifics.

The options market is betting that the S&P 500 will move 1% in either direction after today’s CPI report, based on the price of that day’s at-the-money straddles, according to Andrew Tyler, head of US market Intelligence at JPMorgan Chase & Co.’s trading desk. According to BofA’s global poll, a majority of fund managers see the Fed cutting rates in the second half of 2024. That has lifted sentiment — derived from a combination of cash levels, equity allocation and economic growth expectations — to the highest since November 2021.US housing starts, initial jobless claims, industrial production, ThursdayCleveland Fed President Loretta Mester speaks, ThursdayThe S&P 500 rose 0.

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Asian Stocks to Follow US Rally With Focus on CPI: Markets WrapStocks in Asia are poised to follow a big tech-led rally in US benchmarks, as investors look to key inflation data later Wednesday for clues on the Federal Reserve’s next steps.
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