Asia-Pacific markets surged on Wednesday following the release of softer-than-expected US inflation data. The data, showing a smaller-than-anticipated increase in wholesale prices, boosted investor confidence and propelled Wall Street benchmarks higher. Meanwhile, business sentiment in Japan rebounded, and South Korea's markets saw gains despite political turmoil and a rising unemployment rate.
Asia-Pacific markets rose Wednesday, following a softer-than-expected inflation data from the U.S. that sent two key Wall Street benchmarks higher overnight., which measures wholesale inflation, climbed just 0.2% in December, according to the Bureau of Labor Statistics. Economists polled by Dow Jones had estimated a 0.4% rise. Core PPI, which excludes food and energy, came in flat.
Trump is expected to issue orders to roll back President Joe Biden's restrictions on drilling for oil and gas offshore and on federal land, the lobbyists told the newspaper. He also plans to go after tailpipe emission rules and start approving plants that export liquid natural gas, the Journal reported.Call option buying is high ahead of earnings, says Goldman's John Marshall"A lot of call buying.
Marshall pointed to the consumer sector as one area where there could be volatility, building off a hectic third-quarter reporting season. "The earnings day moves that we saw last quarter were at a 14-year high. That tells you that there's a lot of volatility in the fundamentals of these companies," Marshall said.
ECONOMY MARKETS INFLATION BUSINESS SENTIMENT SOUTH KOREA
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