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Asian Stocks Surge Into Weekend with US Rate Cut 'Seemingly Locked In'
The Federal Reserve plans a 25-basis-point rate cut amid steady inflation and rising housing and airfare costs, with core CPI increasing 0.3% in August, officials said.
- BLS data out Thursday showed the core consumer price index rose 0.3% in August, roughly matching forecasts of about 0.31%.
- Within goods, prices excluding food and energy accelerated, and services costs rose, led by airfares and shelter, with tariffs impacting some goods' prices.
- Asian equities and U.S. benchmarks rallied Friday, with the S&P 500 and Treasuries advancing as chipmakers including SK Hynix, Samsung Electronics and TSMC and Alibaba Group Holdings Ltd. led gains.
- Market strategists noted the data strengthens the case for easing, with traders betting on a 25-basis-point Fed cut next week, said Taylor Nugent, senior economist at National Australia Bank.
- Data collection issues at the Bureau of Labor Statistics add uncertainty as the Labor Department watchdog opened a review Wednesday, and if core services outside primary rents do not soften, rate cuts may weaken.
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Asian Stocks Near Record High on Fed Rate-Cut Bets: Markets Wrap
(Bloomberg) -- Asian stocks rallied, with MSCI’s regional gauge nearing a record high, after US inflation and jobless claims data cemented expectations the Federal Reserve will cut interest rates next week.
·Bern, Switzerland
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The High Point Enterprise+14 Reposted by 14 other sources
Asian stocks surge into weekend with US rate cut 'seemingly locked in'
Asian markets surged again Friday, tracking record highs across Wall Street, after US inflation and jobs data all but set in stone a Federal Reserve interest rate cut next week.
US core CPI rises as expected, keeping fed on track for rate cut
The report suggests inflation continues to linger. President Donald Trump’s global tariffs are impacting prices of some goods, while ongoing increases in services costs may present a more persistent pressure to overall inflation.
·India
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Coverage Details
Total News Sources26
Leaning Left2Leaning Right7Center2Last UpdatedBias Distribution64% Right
Bias Distribution
- 64% of the sources lean Right
64% Right
L 18%
C 18%
R 64%
Factuality
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