Asia markets climb as U.S. Treasury yields pressure Wall Street; data from Australia and Japan on deck

Asia-Pacific markets climbed even as U.S. Treasury yields put pressure on Wall Street equities Monday.Overnight in the U.S., all three major indexes remained largely range bound, with investors awaiting the consumer price index report out on Wednesday to gauge the U.S. Federal Reserve's rate cut path.

A global chip stock has risen significantly this year driven by what Morningstar calls the"AI buzzword" narrative.has pulled up from behind to overtake the broader market this year as a surge in crude prices pushes stocks to all-time highs.hit an all-time intraday high of $122.15 on Friday and has gained more than 21% for the year. The refinersThe energy rally may still have room to run given that the sector is still underperforming the broader market by 15% over the past year.

Recent data supporting a recovery in manufacturing activity and"signs of life" in inflation are some of the factors pointing to an impending market slowdown, according to Torsten Slok, chief economist at Apollo Global Management. Against this backdrop, Slok pointed out that gains in equity market are spreading to other sectors beyond technology. He advised investors to seek out winners and losers from a"bottom-up perspective," rather than just reaching for the"Magnificent Seven," which posted sky-high returns last year.U.S. Treasury Secretary Janet Yellen attends a press conference at the U.S. Ambassador's residence in Beijing on April 8, 2024.

Source: News Formal (newsformal.com)

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.

Asia markets fall ahead of central bank interest rate decisions from Japan and AustraliaThe Bank of Japan is widely reported to be ending its negative interest rate policy, while the RBA is expected to hold rates steady.
Source: NBCDFW - 🏆 288. / 63 Read more »

Asia markets poised to fall ahead of central bank decisions from Japan and AustraliaThe Bank of Japan is widely reported to be ending its negative interest rate policy, while the RBA is expected to hold rates steady.
Source: nbcsandiego - 🏆 524. / 51 Read more »

South Korean stocks lead gains in Asia after Fed maintains rate forecast; Nikkei hits fresh all-time highInvestors in Asia will be watching for economic data from Australia, Japan and India
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »

Hong Kong stocks lead gains in Asia after Fed maintains rate forecast; Nikkei hits fresh all-time highInvestors in Asia will be watching for economic data from Australia, Japan and India
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »

Nikkei hits fresh all-time high; Asia markets climb after Fed maintains forecast for three rate cutsInvestors in Asia will be watching for economic data from Australia, Japan and India
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »

Asia markets set to rise as U.S. Treasury yields climb; data from Australia and Japan on deckInvestors in Asia will observe business confidence surveys out from Australia and consumer confidence data from Japan.
Source: nbcsandiego - 🏆 524. / 51 Read more »