Asia markets are set to open higher after Wall Street soars on soft inflation data; Japan GDP on deck

Asia-Pacific stocks were set to open higher Thursday, after Wall Street benchmarks closed at record highs on soft inflation data.0.3% in April, below the 0.4% rise predicted by the Dow Jones. U.S. CPI climbed 3.4% year over year, in line with market estimates.Investors are awaiting first-quarter GDP data from Japan, which is expected to show that its economy contracted at an annualized rate of 1.

All the other eight S&P 500 sectors are lagging the entire benchmark this quarter, led by Real Estate, down 2.1%; Consumer Discretionary, off 2.0%; and Health Care, lower by 1.5%.in April, the"lack of a nasty surprise" was welcome, unlike March's disappointingly high readings, said Mark Hamrick, senior economist at Bankrate."With the 3.4% year-over-year headline increase and 3.6% in the core , these remain irritatingly high," Hamrick said.

Several clean energy stocks have rallied this week, in some cases with no company-specific news, leaving some investors to question what was behind the gains.The bounce yesterday"was simply a meme stock rally, with the most heavily shorted stocks gaining the most," the analyst told clients in a research note Wednesday."Yesterday clean tech investors got a reminder — if any were needed — of just how emotionally these stocks can move on a day-to-day basis," Molchanov said.

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