Dow Jones, Hang Seng, ASX 200 Outlook: Strong PMI Data Buoys Markets
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S&P 500 Slides on Fed Tapering Hints, Hang Seng and ASX 200 Open Mixed
DOW JONES, HANG SENG, ASX 200 INDEX OUTLOOK:
April’s FOMC minutes hints at tapering discussion at some point in upcoming meetings
The US Dollar rebounded; Bitcoin tumbled as much as 30% before paring some losses
FOMC Minutes, USD, Bitcoin, Inflation, Asia-Pacific at Open:
Wall Street equities pulled back for a third day as inflation concerns continued to dominate traders’ minds alongside hints from April’s FOMC minutes that the central bank may start to discuss tapering stimulus in the foreseeable future. A number of Fed participants suggested that if the economy continued to make rapid progress toward the Committee’s goal, “it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases.”
Dow Jones, Hang Seng, ASX 200 Outlook: Tech Rebound Bolsters Risk Appetite
DOW JONES, HANG SENG, ASX 200 INDEX OUTLOOK:
US retail sales growth unexpectedly stalled in April as the boost from stimulus checks faded
Asia-Pacific equities may follow a positive lead, but viral resurgence and lockdowns remain top concerns
US Retail Sales, Consumer Sentiment, Pandemic, Asia-Pacific Week-Ahead:
US markets shrugged off a slight miss in April’s retail sales figures and closed broadly higher on Friday. The technology sector rebounded sharply as slower-than-expected spending growth cooled tapering fears. The Commerce Department reported a flat MoM reading in April following a 10.7% surge in March, suggesting that the boost from stimulus checks is fading. Looking ahead, record savings and post-Covid economic reopening may still underpin spending in the months to come.
Dow Jones Retreats as Inflation Heats Up, Hang Seng and ASX 200 in Sour Mood
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of clients are net short. Long
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DOW JONES, HANG SENG, ASX 200 INDEX OUTLOOK:
Rising inflation concerns spook markets, triggering broad profit taking
Stocks in Australia and Hong Kong are positioned for losses following a sour Wall Street lead
US Inflation, Commodity Prices, Profit Taking, Asia-Pacific at Open:
Wall Street equities pulled back for a second day as inflation concerns continued to dominate traders’ mind. With copper and iron ore prices surging to record highs and Chinese PPI figure hitting 6.8% YoY, equity markets are under increasing pressure. Higher commodity prices could hinder growth and encourage central banks to withdraw monetary stimulus at a faster pace
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