Asian stocks dip as rate cut rally cools, China data underwhelms
Most Asian stocks fell on Friday as warnings from a slew of Federal Reserve officials saw investors reassess expectations of interest rate cuts, while mixed economic readings from China prompted increased caution. Regional markets took a weak lead-in from Wall Street, as U.S. stock benchmarks closed lower after briefly touching record highs. U.S.…
Japan GDP shrinks more than expected in Q1 as consumption slows
The Japanese economy shrank more than expected in the first quarter of 2024, hit chiefly by a slowdown in consumer spending amid sticky inflation and sluggish wages, while capital spending also slowed. Gross domestic product shrank 0.5% quarter-on-quarter in the three months to March 31, government data showed on Thursday. The reading was…
US stock futures flat after strong session; CPI data awaited
U.S. stock index futures moved little in evening deals on Tuesday after Wall Street shrugged off stronger-than-expected producer inflation data, with focus now turning to a more closely watched reading on the consumer price index. Comments from Federal Reserve Chair Jerome Powell appeared to have factored into some strength on Wall Street, after…
Oil prices inch higher with China cues, Israel-Hamas ceasefire in focus
Oil prices rose in Asian trade on Thursday as focus turned to upcoming trade data from China for more cues on demand in the world’s largest crude importer. Focus also remained on a potential ceasefire between Israel and Hamas, especially as the U.S. picked up its efforts to broker an agreement. The Biden…
Asia FX weakens, dollar firms as markets rethink rate cuts
Most Asian currencies weakened on Wednesday, while the dollar firmed as comments from Federal Reserve officials saw markets rethink expectations for U.S. interest rate cuts. The Japanese yen remained an underperformer among its peers, weakening against the dollar even as government officials kept up their warnings of more potential intervention in currency markets.…
US stock futures muted as rate cut rally cools, more Fed speak awaited
U.S. stock index futures tread water in evening deals on Monday as some Federal Reserve officials said interest rates were likely to remain unchanged in the near-term, with focus turning to more upcoming Fed speakers this week. Wall Street marked three straight days of gains as some less hawkish Fed comments and softer-than-expected…
Oil prices rise as Israel-Hamas ceasefire hopes dim
Oil prices rose in Asian trade on Monday after clocking their worst weekly decline in seven months, amid growing signs that the latest ceasefire talks between Israel and Hamas had yielded little progress. Further gains in oil were limited by the prospect of weakening demand and less tight supplies this year. The two…
US stock futures rise as Powell pushes back against rate hike
U.S. stock index futures rose in evening deals on Wednesday after a whipsaw session on Wall Street as Federal Reserve Chair Jerome Powell warned that interest rates will remain high for longer, but dismissed the prospect of a rate hike. Powell’s comments offered some relief to markets, which had fallen sharply in recent…
Fed meeting, Amazon results, struggling US consumers – what’s moving markets
The U.S. Federal Reserve concludes its latest policy-setting meeting later Wednesday, while Amazon’s first-quarter results largely impressed. Crude prices have been hit by a large build in U.S. inventories, while Wall Street looks set to start the new month on a negative note. 1. Powell in focus as Fed meeting concludes The Federal…
US stock futures flat as tech rally cools, Fed meeting looms
U.S. stock index futures moved little in evening deals on Monday as a rally in the technology sector appeared to be running out of steam amid dwindling hopes for interest rate cuts by the Federal Reserve. Focus was now on a Fed meeting later in the week for more cues on policy, after…
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