Asian Shares Head for Gains After New S&P 500 Peak: Markets Wrap

-- Stocks in Asia were set to advance Thursday after US shares touched a fresh peak as economic data supported the case for Federal Reserve rate cuts.Zelenskiy Challenges Trump to Reveal Plans for Ending War

“Bad news is good news,” said Fawad Razaqzada at City Index and Forex.com. “That’s how risk assets reacted in the aftermath of today’s US data releases.” In Asia, the yen was steady Thursday after setting a fresh low since 1986 against the greenback for a third consecutive day as speculation persists that the Bank of Japan will tighten policy only gradually.

Fed Chair Jerome Powell said Tuesday that the latest economic data suggested inflation is getting back on a downward path, but emphasized officials need more evidence before lowering interest rates. When he was asked what keeps him up at night, he pointed to the delicate balance between taming inflation and avoiding a significant deterioration in the labor market.

Former President Barack Obama has reportedly told allies that Joe Biden’s disastrous debate performance has made his bid to win back the White House even tougher than it had been previously.The Washington Post reports that Obama gave a harsher private assessment of Biden’s chances of re-election following the debate despite publicly trying to ease concerns by tweeting that “bad debates happen.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Asian shares are mixed after gains on Wall StreetHONG KONG (AP) — Asian stocks were mixed Tuesday after stocks advanced on Wall Street and yields jumped in the U.S. bond market as election-related issues...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asian stocks hold on to gains; BoE in focusAsian stocks took a breather on Thursday, hovering near their highest in two years as traders waited for more U.S. policy clues, while sterling was steady...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian stocks trade mixed after Wall Street logs modest gainsTOKYO (AP) — Asian shares traded mixed Wednesday, as investors weighed recent data highlighting a slowing U.S. economy that offers both upsides and downsides...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian shares are mostly lower ahead of key US inflation reportBANGKOK (AP) — Shares fell Thursday in most Asian markets ahead of a key U.S. inflation report due Friday that might point the way ahead for interest rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »