Global Markets:
- Asian Stock Markets : Nikkei down -0.31%, Shanghai Composite up 0.12%, Hang Seng up 0.66% ASX down -0.11%
- Commodities : Gold at $3,469.92 (-0.13%), Silver at $39.010 (-0.46%), Brent Oil at $67.62 (-0.53%), WTI Oil at $64.23 (-0.57%)
- Rates : US 10-year yield at 4.214, UK 10-year yield at 4.6990, Germany 10-year yield at 2.6977
News & Data:
- (USD) Prelim GDP q/q 3.3% to 3.1% expected
- (USD) Unemployment Claims 229K to 231K expected
Markets Update:
Asian markets traded mixed on Friday, following Wall Street’s overnight gains, as investors awaited key U.S. inflation data that could influence interest rate expectations. Optimism was lifted by Nvidia’s stronger-than-expected quarterly results, while the CME FedWatch Tool indicated an 87.2% chance of a September rate cut.
In Australia, stocks eased after recent gains. The S&P/ASX 200 slipped 16.90 points, or 0.19%, to 8,963.10, weighed by miners and banks. BHP and Mineral Resources declined, while Rio Tinto was flat. Energy stocks outperformed, with Beach Energy up over 1% and Woodside edging higher. Tech names were also stronger, with Zip rallying more than 4%. Among banks, Commonwealth and NAB fell nearly 1%, while ANZ gained 0.5%.
Japanese shares dropped, with the Nikkei 225 down 0.43% to 42,642.97, pressured by weakness in exporters and technology. Sony slid nearly 2%, while Tokyo Electron lost over 2%. Economic data showed Tokyo inflation slowed to 2.6% in August, while unemployment eased to 2.3%. Industrial production fell 1.6% in July, missing expectations.
Elsewhere, markets in China, Hong Kong, Singapore, and Taiwan advanced, while South Korea, Malaysia, and Indonesia slipped.
On Wall Street, the S&P 500 hit another record close, while the Nasdaq gained 0.5%. European markets were mixed, and crude oil prices rose to $64.57 a barrel.
Upcoming Events:
- 12:30 PM GMT – CAD GDP m/m
- 12:30 PM GMT – USD Core PCE Price Index m/m
