FILE - A person walks in front of an electronic stock board showing Japan's sector Indices at a securities firm in Tokyo, March 22, 2024. Asia stocks were mostly higher on Tuesday, April 9, 2024, with investors mainly focusing on a U.S. inflation report and what it means for interest rate cuts by the Federal Reserve.– European equities dipped in early trading Tuesday while Asian stocks closed mostly higher, as investors mainly focused on a U.S.
In South Korea, the Kospi lost 0.5% to 2,705.16, and Australia’s S&P/ASX 200 gained 0.5% to 7,824.20.“The upbeat sentiment stemming from Friday’s jobs report, where indexes surged following wage-growth data suggesting contained inflationary pressures, has set the stage for a white knuckle event as the forthcoming consumer-price index release looms larger than life,” said Stephen Innes, managing partner at SPI Asset Management.
The S&P 500 edged down less than 0.1% to 5,202.39. The Dow Jones Industrial Average tiptoed less than 0.1% lower to 38,892.80, while the Nasdaq composite inched 5 points higher to 16,253.96.This week has several flashpoints that could further swing expectations. Apart from Wednesday’s report on the inflation that U.S. consumers are feeling at cash registers, there will be reports on inflation at the wholesale level and on expectations for future inflation among U.S. households.
Source: News Formal (newsformal.com)
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