Asian shares tracked Wall Street higher after a softer-than-expected U.S. inflation report encouraged bets of less aggressive rate hikes from the Federal Reserve, while the dollar remained bruised after its biggest plunge in five months. | Reuters
Both the S&P 500 futures and Nasdaq futures rose more than 0.3 percent on Wednesday. The S&P 500 rose more than 2 percent during the previous session while the Nasdaq Composite closed 20 percent above its recent closing low in June., have been an enormous problem for valuations in 2022, so any dovishness is seen as positive by the stock market, particularly for the highest valued companies,” said Oliver Blackbourn, multi-asset portfolio manager at Janus Henderson Investors..
Oil prices fell in early Asian trade as traders shifted attention back to more supply of crude entering the market coupled with weaker demand. Brent crude futures fell 0.4 percent to $97.05 a barrel, whileGold was slightly lower. Spot gold was traded at $1,790 per ounce, pulling away from a one-month high hit in the previous session.
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