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Asian Shares Mostly Rise After Last Week's Wall Street Rallies
Investors anticipate the US Federal Reserve's first interest rate cut this year, with Australian shares expected to open 0.7% lower amid inflation and economic growth concerns.
- Wall Street stocks dipped on Friday with the Dow falling 273 points while the Nasdaq gained a record high led by Microsoft shares.
- Market activity is being driven by anticipation that the Federal Reserve will reduce its key interest rate this week amid inflation remaining close to 4.8%.
- Meanwhile, concerns persist about subdued August data, damage from Trump’s tariffs, and worries regarding China’s economic outlook ahead of official data releases.
- U.S. benchmark crude oil increased by 42 cents, reaching $63.11 per barrel, while Brent crude climbed 41 cents to trade at $67.40 per barrel amid current market trends.
- The expected Fed rate cut and ongoing economic uncertainty could cause a market retreat if rate cuts are fewer than predicted despite no immediate recession risk.
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Asian shares mostly rise after last week's Wall Street rallies
Asian shares were mostly higher Monday, after Wall finished the previous week near their record levels.Hong Kong's Hang Seng added 0.4% to 26,505.18. The Shanghai Composite edged up 0.2% to 3,878.57. Worries are simmering about China's economy, as analysts say the data for August aren't strong enough to reflect ongoing dynamic growth, especially given the damage from U.S. President Donald Trump's tariff policies. China's retail sales rose 3.4%, …
·Orlando, United States
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Daily Journal+23 Reposted by 23 other sources
Asian markets fluctuate ahead of expected US rate cut
Asian markets were mixed Monday as traders geared up for an expected interest rate cut by the Federal Reserve this week.
·Cherokee County, United States
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Coverage Details
Total News Sources50
Leaning Left9Leaning Right10Center15Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
L 26%
C 44%
R 29%
Factuality
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