inflation data this week, including the US consumer price index, and the start of another corporate earnings season. Bond markets were volatile after a recent sell-off drove yields to multi-year highs in the US, making equities less attractive in comparison. In the US, the June CPI report is scheduled to be released on Wednesday, which is forecast to show headline inflation slowed to its lowest level since early 2021 at 3.1%, with the core easing to 5.0%, Reuters reported.
A hawkish commentary from the Federal Reserve Markets have increased expectations of an interest rate hike later this month. Market will also take cues from quarterly results this week of big banks like JPMorgan Chase, Wells Fargo and Citigroup and other big companies such as PepsiCo, Delta Air Lines and UnitedHealth Group. In Asia, investors remained watchful of China’s inflation data and producer prices later today.
China’s central bank kept the 7-day Reverse Repo rate unchanged at 1.90%. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 10th July MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1% in early trade. Japan’s Nikkei 225 rose 0.28% and the Topix gained 0.13%.
South Korea’s Kospi traded 0.17% higher, while the Kosdaq fell 0.36%. Hong Kong’s Hang Seng index futures were trading nearly 400 points higher at 18,760. In Australia, S&P/ASX 200 gained 0.52%. Meanwhile, Gift Nifty traded 14.50 points, or 0.07%, lower at 19,443.50, indicating a flat-to-lower start for the Indian indices.
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