Asia stocks rise as reduced Fed hike bets lift tech; U.S. jobs data awaited
Asian benchmarks climbed as technology stocks led a rally following gains on Wall Street. Investor risk appetite increased after dovish comments from Federal Reserve official Waller calmed bond markets. Markets are currently awaiting U.S. non-farm payrolls data to gauge the likelihood of further interest rate adjustments. This upward movement follows a period of volatility where strong employment data previously raised fears of higher borrowing costs to combat inflation.
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- ✓ Asian stock benchmarks mostly rose following a tech-led rally on Wall Street.
- ✓ Investors are awaiting U.S. jobs data.
- ✓ Federal Reserve official Waller provided comments that soothed bond markets.
What changed
Dovish remarks from Fed official Waller have shifted investor sentiment toward risk and lifted Asian tech stocks.
Live updates
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Asian stocks rise as Fed rate hike bets soften
Asian benchmarks climbed as technology stocks led a rally following gains on Wall Street. Investor risk appetite increased after dovish comments from Federal Reserve official Waller calmed bond markets. Markets are currently awaiting U.S. non-farm payrolls data to gauge the likelihood of further interest rate adjustments. This upward movement follows a period of volatility where strong employment data previously raised fears of higher borrowing costs to combat inflation.
Why it matters
The Federal Reserve aims to lower inflation to a 2% target, but prices remain above 3% due to rising oil costs and the U.S. war with Iran. Wall Street anticipates a rate hike before the end of the year to cool the economy. Recent data showing 162,000 unexpected job additions previously pushed Treasury yields higher.
What is confirmed
- Asian stock benchmarks mostly rose following a tech-led rally on Wall Street.
- Investors are awaiting U.S. jobs data.
- Federal Reserve official Waller provided comments that soothed bond markets.
Still unconfirmed
- U.S. stocks fell and Treasury yields rose Friday after employers unexpectedly added 162,000 jobs last month.
- Inflation remains well above 3% due to rising oil prices amid the U.S. war with Iran.
What to watch next
- Release of U.S. non-farm payrolls data
- Federal Reserve interest rate decision later this month
confidence 90%Sources used for this update (6)
- Reuters — Asian shares climb ahead of US jobs data, Fed's Waller soothes bonds
- Yahoo Finance — Asian benchmarks mostly rise after tech stocks lead rally on Wall Street
- Investing.com — Asia stocks rise as reduced Fed hike bets lift tech; U.S. jobs data awaited
- WSJ — Global Bond Markets Take a Breather
- Seeking Alpha — Asian stocks surge as Waller’s dovish rate comments lift investor risk appetite; eyes on U.S. non-farm payrolls data
- finance.yahoo.com — Stocks fall after a surprisingly strong jobs report raises prospects of an interest rate hike
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