Asia stocks wary; Wall St unfazed as Biden bows out

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 44 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 42%
  • Publisher: 63%

Kamala Harris News

President Joe Biden,Donald Trump,Corporate Earnings

Asian shares tread cautiously on Monday ahead of a packed week of corporate earnings that should test the sky-high valuations of tech stocks, while investors...

Bull statues are placed in font of screens showing the Hang Seng stock index and stock prices outside Exchange Square, in Hong KongSYDNEY - Asian shares tread cautiously on Monday ahead of a packed week of corporate earnings that should test the sky-high valuations of tech stocks, while investors hope a key reading in U.S. inflation will narrow the odds on a September rate cut.

"As Trump's polling results have lifted, markets have favoured positions that anticipate more trade barriers and possibly higher inflation," ANZ analysts said. U.S. second-quarter earnings are poised to dominate the week, with Tesla and Google-parent Alphabet kicking off the season for the "Magnificent Seven" megacap group of stocks.The tech sector is projected to increase year-over-year earnings by 17%, while profit for the communication services sector is seen rising about 22%.A busy week for economic news will culminate with the Federal Reserve's favoured inflation measure out on Friday.

The closely-watched Atlanta Fed GDPNow indicator points to growth of 2.7%, suggesting some risk to the upside. In commodity markets, gold held at $2,410 an ounce and not far from last week's record high of $2,483.60.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in US

United States United States Latest News, United States United States Headlines

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

Stock market today: Asian shares advance after Nvidia's rebound offsets weakness on Wall StBANGKOK (AP) — Asian shares are mixed after a rebound for Nvidia offset weakness on Wall Street.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian shares lower after Wall Street closes another winning weekHONG KONG (AP) — Asian shares were mostly lower Monday after U.S. stocks coasted to the close of their latest winning week on Friday, even as Nvidia ’s stock...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian shares sink, weighed down by Wall St tech retreat, China policy questionsAsian shares retreated Friday after a broad washout across Wall Street dragged U.S. stocks lower, and Hong Kong’s benchmark dipped more than 2% as investors ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian stocks mixed with volatile yen after Wall Street rises on inflation reportHONG KONG (AP) — Asian stocks were mixed Friday, with the Japanese yen losing some of its gains after the latest U.S. update on inflation bolstered Wall...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian shares mostly rise, boosted by Wall Street records as Tesla zoomsTOKYO (AP) — Asian shares were mostly higher on Wednesday after Tesla shares zoomed up more than 10%, helping to drive U.S. benchmarks to new records.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian shares are mixed after gains on Wall StreetHONG KONG (AP) — Asian stocks were mixed Tuesday after stocks advanced on Wall Street and yields jumped in the U.S. bond market as election-related issues...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »