Asian stocks rose on Tuesday as traders in Korea returned from holidays in a mood to catch up on a global bounce, while other markets held steady ahead of U.S. inflation data that will offer a crucial guide to the interest rate outlook.
S&P 500 futures were flat, as were European futures . Easing oil prices have markets optimistic that headline inflation will steady or slow in the United States, and that this can reduce the need for future interest rate hikes.
"It's too early to be celebrating the end of inflation, as some market participants seem already to be doing," said ING economist Rob Carnell. Interest rate futures imply a 90% chance that the Federal Reserve lifts its benchmark interest rate by 75 basis points at next week's policy meeting - a position that is perhaps most vulnerable to a downside CPI surprise."The market-implied probability of a third 75 bp rate hike for September has increased noticeably in recent days," said NatWest Markets' U.S. rates strategist Jan Nevruzi.
"If officials do decide to go with another 75bp, more than our long-standing call for 50bp...we suspect policymakers emphasise how they are front-loading hikes."Asia data out on Tuesday offered a cloudy picture of regional economies. A 9% year-on-year jump in Japanese wholesale prices points to pressure on corporate margins, yet a slowdown in gains for August holds some hope of relief.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Frieze Art Fair makes Asian debut in Seoul, tapping hot S.Korean marketVIP guests packed into Seoul's COEX convention centre on Friday as the city became the first in Asia to host the Frieze Art Fair, which features works from over 110 galleries worldwide.
Read more »
12 South Asian Fashion Designers You Should Know AboutYou'll want to keep these stars on your radar.
Read more »
Asian markets rise on back of Wall Street's Friday rallyShares rose Monday in Asia after last week’s strong close on Wall Street snapped a three-week losing streak.
Read more »
N.Asian refiners to get full allocation of Saudi crude in OctoberSaudi Aramco has notified at least three North Asian buyers that it will supply full contractual volumes of crude in October, sources with knowledge of the matter said on Monday.
Read more »
Texas A&M diversity policies discriminate against white, Asian men - lawsuitTexas A&M University has been hit with a proposed class action claiming its employment policies unlawfully discriminate against white and Asian men.
Read more »
In lawsuit, UT-Austin professor accuses Texas A&M faculty program of discriminating against white and Asian menUT-Austin professor Richard Lowery is represented by America First Legal — a group created by Stephen Miller, a policy adviser for former President Donald Trump, and Jonathan Mitchell, a former solicitor general for Texas and the legal architect of the state’s six-week abortion ban.
Read more »