Asian Stocks to Track US Decline for Second Day: Markets Wrap

-- Asian equities were primed to track US stocks by notching a second day of declines as signs of economic weakness overwhelmed the market’s optimism surrounding rate cuts.Equity futures for Japan, Australia and Hong Kong dropped. The S&P 500 fell 0.8% Thursday, extending a drop from the prior session and on track for its largest weekly fall since April. The Nasdaq 100 fell 0.5%, while the Russell 2000 benchmark of US small companies fell 1.

The central bank is getting closer to reducing borrowing costs in September amid growing confidence that price stability is within sight. They’ve laid the groundwork for the coming move in speeches over recent weeks, and Chair Jerome Powell will likely flag it more explicitly after a policy meeting later this month.In Asia, investors will be on the look out for fallout from China’s Third Plenum meeting.

To Dan Wantrobski at Janney Montgomery Scott, the recent “rotation” pushed the broader markets into some moderately overbought territory on a short-term basis. This alongside ongoing extended conditions in leadership areas renders them vulnerable to potential consolidation over the short run, he noted.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian Stocks Set to Track US Lower, Yen in Focus: Markets Wrap(Bloomberg) -- Most Asian equity markets were poised to drop as US stocks fell amid signs of buyer fatigue after a rally to record highs. The yen was in...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asian Stocks Set to Track US Lower, Yen in Focus: Markets WrapMost Asian equity markets were poised to drop as US stocks fell amid signs of buyer fatigue after a rally to record highs. The yen was in focus ahead of inflation data that could draw a line under a six-day slump.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Asian Stocks Set to Track Wall Street’s Tech Rally: Markets Wrap(Bloomberg) -- Asian equities were primed for an early advance after a rally in the world’s largest tech stocks lifted US and global shares to new highs...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

European Stocks Decline as Bond Yields Rise on Rates UncertaintyEuropean equities dropped as investors weighed conflicting messages about the path for interest rate cuts and French stocks resumed their decline.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

French Stocks Lead Decline in Europe Amid Election UncertaintyFrench stocks declined following two days of gains, as investors assessed the lingering impacts on markets from political risks.
Source: BNNBloomberg - 🏆 83. / 50 Read more »