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Asian Stocks Track Wall St Higher After US Job Losses Ease Rate Fears
Technology shares led gains after the report cut the odds of a September Federal Reserve rate increase to about 44%, traders said.
- On Monday, Asian share markets tracked Wall Street higher after a soft United States jobs report pared expectations of near-term rate increases, with the United States Bureau of Labor Statistics reporting 23,000 jobs were lost last month.
- Investors await United States CPI data due Wednesday to gauge Federal Reserve policy, as JPMorgan economist Michael Feroli warned that repeated prints closer to 0.3% could still prompt a rate hike at the September Federal Open Market Committee meeting.
- BofA analysts reported that earnings for major companies rose 30% on the year, while Tech-related stocks saw median EPS growth of 28%, though consensus expects growth to slow to 16% next quarter.
- Global oil prices crept higher as Iran Revolutionary Guards maintained their blockade of the Strait of Hormuz, with Brent Crude adding 0.9% to $84.32 a barrel and United States Crude rising 0.7% to $78.74 a barrel.
- Iran Revolutionary Guards insisted Sunday that they would not reopen the Strait until the United States met their conditions, while President Donald Trump said in an interview: "We are only semi-negotiating with them," adding he expects the situation to work out.
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·Rio de Janeiro, Brazil
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Post Register+4 Reposted by 4 other sources
World shares are mixed after Wall Street gains, while oil prices bounce higher
Shares in Europe and Asia are mixed, with Japan's Nikkei 225 leading advances after U.S. stocks ended last week with gains. Oil prices rose Monday and U.S. futures were little changed. South Korea's Kospi rose only moderately as investors sold…
Asian stock markets were mixed today, following a rally on Wall Street at the end of last week, while oil prices rose due to new uncertainties about the situation in the Middle East and the security of maritime routes, the Associated Press reports.
·Belgrade, Serbia
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Coverage Details
Total News Sources48
Leaning Left8Leaning Right13Center22Last UpdatedBias Distribution51% Center
Bias Distribution
- 51% of the sources are Center
51% Center
L 19%
C 51%
R 30%
Factuality
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