SYDNEY, July 9 — Asian shares tracked Wall Street higher today as markets hoped the US Federal Reserve Chair Jerome Powell would sound dovish about easing prospects later in the...
S&P 500 futures gained 0.2 per cent and Nasdaq futures firmed 0.3 per cent, after Wall Street equities inched higher to close at record highs overnight. — Reuters picSYDNEY, July 9 — Asian shares tracked Wall Street higher today as markets hoped the US Federal Reserve Chair Jerome Powell would sound dovish about easing prospects later in the day, while the dollar steadied near four-week lows.
S&P 500 futures gained 0.2 per cent and Nasdaq futures firmed 0.3 per cent, after Wall Street equities inched higher to close at record highs overnight.Fed Chair Powell is set to appear before Congress today and tomorrow, as investors wagered a slew of soft labour market data has greatly increased the chance of a rate cut in September to about 80 per cent.
For all of 2024, markets have fully priced in a total 50 basis points of easing, equivalent to two rate cuts.
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