Asian stocks hit a record high after Wall Street set new peaks, as investors bet on an interest-rate cut by the Federal Reserve this week.
The MSCI Asia-Pacific Index advanced 0.6% in its ninth straight day of gains, set for the longest winning run in nearly five years. Contracts for the S&P 500 edged up 0.1% after the gauge closed at its highest ever. Futures for European stocks also gained by a similar level. Gold rose to a new record while a gauge of the dollar edged lower for a second day. Treasuries steadied as investors awaited Tuesday’s US retail sales data. The yen gained against the dollar, in part due to the entry of Japan’s Agriculture Minister Shinjiro Koizumi into the leadership race of the ruling Liberal Democratic Party. Recent data showing softer labor-market conditions and no major surprises in inflation prints have reinforced expectations for a quarter-point rate cut by the Fed on Wednesday. Traders see the move as virtually certain, though the debate is now shifting to how quickly the central bank might ease policy beyond that, with inflation still running above the Fed’s 2% target. The central bank is trying to be accommodative by “doing what the administration wants it to do, without hurting the credibility of the Fed,” said Gordon Tsui, managing director and head of fixed income at Ping An of China Asset Management (HK), on Bloomberg TV. “I think this is the ultimate goal of the Fed officials.” A quarter-point reduction is seen as a sure thing when the Fed announces its policy decision Wednesday, with a small potential for a half-point move amid signs US job growth is slowing rapidly. Financial markets broadly are leaning toward concerns around the employment picture taking precedence and the Fed conveying a dovish tone. US policymakers will also release their quarterly update of economic and rate forecasts — known as the dot plot. In June, Fed officials were narrowly in favor of two quarter-point cuts in 2025. In other Fed news, a US appeals court blocked the president from removing Governor Lisa Cook from her post while her lawsuit challenging the dismissal proceeds. Also, Trump’s economic adviser Stephen Miran is on his way to joining the central bank’s board after the Senate confirmed him to the post. Meanwhile, President Donald Trump said he would speak with Chinese leader Xi Jinping on Friday as US and Chinese officials reached a framework deal on keeping the TikTok app running in the US. It would be the first direct engagement between Trump and Xi since June. In Japan, Koizumi said he will run in the ruling party leadership race as the LDP looks for a successor capable of turning around its prospects and leading the nation. The move reduces the split of the LDP’s centrist vote and raises his chances, according to Credit Agricole CIB’s David Forrester. Also, the US is set to end the stacking of previous tariffs on most imports from the country at the same time, according to Japan’s top trade negotiator Ryosei Akazawa. US After Hours HITI +13.9% nicely higher on earnings; WBTN +71.1% on signing term sheet with Disney for new digital comics platform; PLAY -14.5% sharply lower on earnings.
Nikkei +0.45% Hang Seng -0.08% CSI -0.46% Shanghai -0.14% Shenzen +0.09%
Eur$ 1.1776 CNH 7.1133 CNY 7.1156 JPY 147.02 GBP 1.3614 CHF 0.7938 RUB 82.8029 TRY 41.3161 WTI$ 63.47 +0.27% Gold 3,683 +0.11% BTC 115,449 +0.04% ETH 4;517 +0.11%
S&P +0.10% Nasdaq +0.16% EuroStoxx +0.13% FTSE +0.04% Dax +0.13% SMI +0.01%
Macro :
- Hedge Funds Bought Tech Stocks in Size Last Week
- Economists See Canada Deficit Hitting C$70 Billion on Trade War
- Economists See Canada Deficit Hitting C$70 Billion on Trade War
- US Looks to Boost Strategic Uranium Reserve for Nuclear Power
- Investors Cut Dollar Exposure at Record Pace, Deutsche Bank Says
- Trump Bid to Fire Cook Before Fed Rates Meeting Blocked by Court
- China ‘Mini’ Stimulus Likely as Debt Reduces Beijing’s Options
- Japan Reformer Koizumi Joins Leadership Race; Yen Strengthens
Keep an eye on :
Keep an eye on :
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- Delage Auto : French Elite Back Luxury Auto Brand Seeking to Take on Bugatti
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- XOM US : Chord Energy to Buy XTO’s Williston Basin Assets for $550m
- BVI FP : Bureau Veritas Holder Wendel Offers ~23.3m Shares, Terms Show
- ChowChow IPO : ChowChow Cloud Prices IPO of 2.6M Shares at $4 Apiece
- EL FP :
- GBT FP : Adjustment of 2025 full-year financial targets
- GOOGL US : Google says to invest £5bn in UK ahead of Trump visit
- 2696 HK : Fosun’s Henlius Is Said in Talks With J&J, Roche on Cancer Drug
- INTEGB SS :OsteoCentric Oncology's Takeover Offer for Integrum Fails
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- KER FP : Gucci Owner Kering Says It Was Hacked, Limited Data Accessed
- MB IM : Mediobanca Holder FinPriv Offers About 14.3m Shares: Terms
- META US : Meta’s struggles to decouple from Chinese supplier of AI smart glasses
- MSFT US : Microsoft Boosts Qtr Div 10% to 91c Per Share
- NSN IT : Next Vision Stabilized Systems Offers Shares via Jefferies
- NOVN SW : In major ruling, patent of Novartis' blockbuster cardiac drug revoked by India
- NVDA US : Dyna Robotics Raises $120 Million in Funding From Nvidia, Amazon
- NYT US : Trump Says He’s Bringing $15b Lawsuit Against New York Times (1)
- NYXH BB : Nyxoah Sues Inspire Over Patent Infringement
- ORCL US : Oracle Could Play Key Role In US-China TikTok Deal: CBS News
- OSCR US : Oscar Said to Offer Up to 2.75% Coupon on $350M Convert
- PKTM AV : Pierer Mobility Names Petra Preining as New CFO
- BPSO IM : Popolare di Sondrio Names Casini, Recchi, Sonnino as New Heads
- RUI FP : Rubis Says it’s in Contact With Various Industrial, Finl Parties
- SU FP : Schneider Electric Offers Convertible Bonds Due 2033
- SCHP SW : Schindler Holder Offers About 600,000 Shares, Terms Show
- SCHP SW : Schindler Holder Offers About 600,000 Shares, Terms Show
- SSABA SS : SSAB Says FSA Proceeds With Goodwill Impairment Review Case
- SPSN SW : Swiss Prime Site Names CFO Marcel Kucher CEO From January
- TIETO FH : TietoEVRY Narrows FY Organic Revenue Forecast
- TSLA US : OpenAI Hires Former xAI CFO Mike Liberatore: CNBC
- TSLA US : Musk Plans AI5 Chip Review, Tesla Meetings on AI, Vehicle Output
- TRIP US : Tripadvisor stock jumps 6% on no apparent news, Volume +50%
- UBSG SW : Swiss reject plan to delay parts of UBS capital reform - FT
- UCG IM : Italy Is Drafting Plans to Raise €1.5 Billion More From Banks
- Verisure IPO : Verisure Said to Eye €3 Billion Swedish IPO as Soon as This Week
- VOW GY : Volkswagen Settles With Diesel-Car Drivers in the Netherlands
- VU FP : VusionGroup FY Sales Forecast Beats Estimates
- WBTN US : Webtoon Shares Soar on Disney Investment, Web Comic Venture
- YCA LN : US Looks to Boost Strategic Uranium Reserve for Nuclear Power