SYDNEY/HONG KONG (Reuters) - Asian stock markets stayed within tight ranges on Friday amid thin holiday trade and as investors awaited the release of key U.S. jobs data and other directional cues. FILE PHOTO: A man looks at an electronic board showing the Nikkei stock index outside a brokerage in Tokyo, Japan, January 7, 2019. REUTERS/Kim Kyung-Hoon Hong Kong stocks climbed 0.4 percent, the Australian market gained 0.1 percent, while Korea’s KOSPI slipped 0.5 percent and New Zealand shares eased 0.3 percent. China and Japan remained closed for holidays and will re-open on Monday and Tuesday, respectively. European stocks are set to open higher, with London’s FTSE futures up 0.2 percent and German DAX futures up 0.1 percent. Overnight on Wall Street, major indices,, gave up initial gains and closed in the red, weighed down by energy shares. Oil prices plunged after U.S. crude production output set a new record, though the losses were capped by the intensifying … [Read more...] about Asian shares mixed before U.S. jobs data, Europe expected higher
U s inflation data
U.S. economic data buoy stocks
NEW YORK -- U.S. stock indexes edged further into record territory Monday after more signs that the economy is growing in the not-too-hot, not-too-cold way that investors love. The S&P 500 index ticked up by 3.15 points, or 0.1%, to 2,943.03. Big gains for banks led the way on hopes for bigger profits from making loans, but losses for high dividend stocks held indexes in check. The Dow Jones industrial average rose 11.06 points, or less than 0.1%, to 26,554.39, and the Nasdaq composite gained 15.46, or 0.2%, to 8,161.85. Both the S&P 500 and Nasdaq closed at record highs. After rocketing higher in the first few months of the year, momentum has moderated for the S&P 500 index in recent weeks. Trading has remained relatively quiet, as reports on the economy and corporate profits come in better than analysts expected and give investors further confidence that the economy can avoid a recession. "I think it's healthy to see these sideways or even slightly down days," said Nate … [Read more...] about U.S. economic data buoy stocks
U.S., China data send Asian shares higher, Europe to follow
SHANGHAI/HONG KONG (Reuters) - Asian shares climbed on Monday, with markets in Europe poised to track their gains, after strong U.S. first-quarter economic growth and data showing profits at Chinese industrial firms grew for the first time in four months. FILE PHOTO: An investor looks at an electronic board showing stock information at a brokerage house in Shanghai, China September 7, 2018. REUTERS/Aly Song/File Photo/File Photo Still nagged by uncertainty over the outlook for the global economy, investors were awaiting a meeting of the U.S. Federal Reserve this week and Chinese factory data for further clues on policy direction in the world’s biggest economies. In early European trade for index futures, London’s FTSE was 0.2 percent higher while Germany’s DAX edged up 0.1 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.5 percent, rebounding from its biggest weekly drop in more than a month last week. Chinese blue-chips … [Read more...] about U.S., China data send Asian shares higher, Europe to follow
U.S. Inflation Gauge Slid in January
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By Paul Kiernan WSJ Fri., March 29, 2019 WASHINGTON—A key measure of U.S. inflation fell in January to its slowest pace since 2016, underscoring concerns about softening price pressures that have confounded policy makers at the Federal Reserve. The Fed’s preferred inflation gauge, the price index for personal-consumption expenditures, fell 0.06% in January from December and was up just 1.37% from a year earlier, the smallest gain since September 2016, the Commerce Department said Friday. Stripping out volatile food and energy components, the so-called core PCE price index rose 0.06% from December and 1.79% from January 2018, an 11-month low. Economists had expected core PCE prices to rise 0.2% from December. Tepid inflation and worries about slowing economic growth have pushed the Federal Reserve to significantly alter its policy plans since December, when it raised interest rates and signaled further tightening to come in … [Read more...] about U.S. Inflation Gauge Slid in January
U.S. inflation remains contained amid Fed patience on rates
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Washington • A key measure of U.S. inflation was little changed in January while the broader gauge slowed on lower energy costs, underscoring the Federal Reserve’s recent decision to be patient on raising interest rates. Excluding food and energy, the so-called core consumer price index rose 0.2 percent from the prior month and 2.2 percent from a year earlier, according to a Labor Department report Wednesday. The monthly pace matched the median estimate of economists. The broader CPI was unchanged from December, below forecasts, while the annual gain of 1.6 percent was the smallest since June 2017. The data suggest inflation remains around the Fed's 2 percent target, with prices getting a lift from steady wage gains. Fed officials have signaled a pause on raising rates amid global growth risks and headwinds from trade. Even so, Treasury yields and the dollar rose after the report amid some hints that core inflation could be picking up. The latest data brought the … [Read more...] about U.S. inflation remains contained amid Fed patience on rates