Nikada
Japan -0.57%. Japan’s annual headline and core inflation rates accelerated slightly in June. Investors now look ahead to the Bank of Japan’s policy decision next week, where it is expected to maintain ultra-low interest rates.
China -0.14%.
Hong Kong +0.49%. Hong Kong’s consumer price index grew 1.9% year on year in June, the second straight month that the inflation rate in the city has slowed.
Australia -0.15%.
India -1.17%.
South Korea’s producer price index fell 0.2% year on year in June, lower than the 0.5% rise in May and the first month since November 2020 that the index has sunk into contraction territory.
In the U.S. on Thursday, all three major indexes ended mixed following disappointing earnings. The Nasdaq Composite closed 2.05% lower at 14,063.31 points, notching its worst day since early March. The benchmark S&P 500 lost ground by 0.68% to finish at 4,534.80 points. The Dow, on the other hand, added 0.47% to end at 35,224.43 points.
In addition, recent data, including lower-than-expected inflation and moderating job growth, have convinced many investors and analysts that the Federal Reserve’s expected July rate hike will be the last of its current tightening cycle.
Heads up: Central bank meetings from Europe, Japan, and the United State are due next week, with investors parsing through data to better gauge the monetary policy paths they will likely chart.
Oil prices were little changed on Friday as weak Chinese economic data offset gains from lower oil stocks.
Brent futures rose 3 cents to $79.67 a barrel by 0016 GMT, while U.S. West Texas Intermediate, or WTI, crude climbed 9 cents to $75.74 a barrel. Prices closed marginally higher on Thursday.
Gold steadied around $1,970 an ounce on Friday and was set to gain for the third consecutive week as easing US inflation raised hopes that the Federal Reserve is close to the end of its current monetary policy tightening cycle.
Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).
U.S. stock futures steadied on Friday after the major averages ended mixed during Thursday’s regular session: Dow +0.11%; S&P 500 +0.10%; Nasdaq +0.09%.
More on the markets
- July Fed Meeting: What To Expect And How To Trade It
-
Hands Up, Anyone Else Confused?
