Asian Stocks Eye 2nd Day of Gains as Soft US CPI Lifts Wall Street
Updated
Updated · Bloomberg · Jul 14
Asian Stocks Eye 2nd Day of Gains as Soft US CPI Lifts Wall Street
3 articles · Updated · Bloomberg · Jul 14
Summary
Futures in Japan, South Korea, Australia and Hong Kong pointed to higher opens Wednesday, setting Asian equities up for a second straight advance.
US inflation slowed more sharply than expected, easing fears of near-term Federal Reserve rate hikes and driving a Wall Street rally that lifted risk appetite.
The S&P 500 extended this month’s gains and the Nasdaq 100 rose 1.1%, helped by chipmakers, while US equity futures were little changed afterward.
Early earnings also supported sentiment as major banks posted solid results, though IBM slumped 25% after missing sales estimates; oil added to recent gains.