Asian Stocks Poised to Gain on Benign US Inflation: Markets Wrap

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessAsian Stocks Poised to Gain on Benign US Inflation: Markets WrapStocks in Asia were poised to gain Thursday after a subdued US inflation report eased concerns about imminent interest-rate hikes by the Federal Reserve. American crude snapped a five-day rally.Author of the article:Last updated 12 minutes ago You can save this article by registering for free here. Or sign-in if you have an account.g5kbd}4vcl3vt0u](suoh(ex_media_dl_1.png Bloomberg(Bloomberg) — Stocks in Asia were poised to gain Thursday after a subdued US inflation report eased concerns about imminent interest-rate hikes by the Federal Reserve. American crude snapped a five-day rally.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountEquity-index futures for Japan and South Korea advanced after gains in US benchmarks, with the S&P 500 moving within striking distance of a record. A rally in megacap chipmakers lifted the Nasdaq 100 to a one-month high. Still, caution prevailed as Nasdaq 100 contracts slipped in early Asian trading after Cisco Systems Inc.’s earnings failed to impress. Cerebras Systems Inc. tumbled after sales declined at its hardware business.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againUS consumer prices rose in line with forecasts in July, while a key underlying inflation measure matched its slowest pace since March 2021. Short-dated Treasuries outperformed as traders pared expectations of policy tightening, with money markets assigning less than a 50% chance of a September rate increase. Elsewhere, West Texas Intermediate crude edged lower early Thursday to trade below $83 a barrel. Attention is also on the yen as it edged closer to the key level of 160 per dollar on Wednesday, keeping investors on the lookout for more intervention by officials in the foreign-exchange market.The US inflation data offered some relief to investors after signs of a cooling labor market had already tempered expectations for rate hikes. Still, persistent price pressures and volatile oil markets are complicating the outlook, leaving traders sensitive to incoming data for clues on whether policymakers can remain on hold.The CPI reading and a cooler-than-expected jobs report “may keep hawkish Fed officials at bay in September,” said Gary Schlossberg, global strategist at Wells Fargo Investment Institute. “However, we remain guarded on the near-term outlook for inflation amid volatile oil prices tied to the ongoing Middle East conflict along with lingering core price pressures from a strong economy and the AI boom.”The consumer price index, excluding often-volatile food and energy categories, rose 0.2% in July from a month earlier. On an annual basis, it advanced 2.5%, matching the slowest pace since March 2021.Still, above-target inflation and widening budget deficits have helped keep longer-dated Treasury yields elevated. Thursday’s 30-year bond sale is expected to price at the highest financing rate in 25 years, after a $42 billion auction of 10-year notes drew the highest yield since 2007.“The big surprise with a report that had no surprises is that a situation where inflation isn’t reaccelerating, coupled with the most recent, weak jobs report gives the Fed more time to wait,” said Chris Zaccarelli at Northlight Asset Management.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.In other corners of the market, gold gave up some of its advances from Wednesday to trade around $4,400 an ounce. The dollar was a touch weaker against most of its Group-of-10 peers, with traders remaining focused on the yen.The yen was steady at 159.38 per dollar early Thursday after ending the previous session 0.1% weaker. It has depreciated more than 1% in August, unwinding some of the US-Japanese efforts to strengthen the yen at the turn of the month. “Japanese authorities have already demonstrated a willingness to act, including coordinated action with the US Treasury, and levels approaching or exceeding the recent intervention zone are likely to keep traders cautious,” said Nathan Thooft at Manulife Investment Management. “We definitely are still on intervention watch.”Cisco Systems Inc. delivered quarterly revenue and profit that beat estimates, but failed to live up to investors’ high expectations following blow-out results in the previous period.Cerebras Systems Inc. reported a surprising decline in hardware revenue, a sign it’s making inconsistent progress selling computers with a novel chip design.DeepSeek has set up an official social media account and posted job listings for a new team focused on helping develop artificial intelligence agents that can take on services like Anthropic PBC’s popular Claude Code.Some of the main moves in markets:S&P 500 futures were unchanged as of 8:10 a.m. Tokyo timeHang Seng futures fell 0.3%S&P/ASX 200 futures fell 0.3%The Bloomberg Dollar Spot Index was little changedThe euro was little changed at $1.1527The Japanese yen was little changed at 159.37 per dollarThe offshore yuan was little changed at 6.7447 per dollarThe Australian dollar was little changed at $0.7063Bitcoin fell 0.2% to $63,395.41Ether fell 0.6% to $1,874.35The yield on 10-year Treasuries was little changed at 4.69%Japan’s 10-year yield advanced 2.5 basis points to 2.840%Australia’s 10-year yield was little changed at 5.02%West Texas Intermediate crude fell 0.7% to $82.71 a barrelSpot gold was little changedThis story was produced with the assistance of Bloomberg Automation.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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