inflation data on Wednesday. In Japan, official data showed the country’s household spending fell 4.2% YoY in June, compared with 4% in May, remaining in negative territory for the fourth straight month. In the US, the latest consumer price report will be released on Thursday, which is expected to offer clues about the Federal Reserve’s monetary policy path.
Meanwhile, New York Fed President John Williams, a voting member this year, said he expects interest rates could begin to slide in early 2024, as per a report, while Governor Michelle Bowman said additional interest rate hikes will likely be needed to lower inflation to the 2% target, Reuters reported. Japan’s Nikkei 225 gained 0.33%, while the Topix rose 0.25%. South Korea’s Kospi added up 0.46%, while Kosdaq fell 0.44%.
Hong Kong’s Hang Seng index futures traded around 125 points lower at 19,412. Australia’s S&P/ASX 200 rose 0.29%. Meanwhile, Gift Nifty was trading 0.10% lower at 19,670.50, indicating a muted start for the Indian benchmark indices.
Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 8th August US stock indices ended higher Monday, as investors awaited inflation data due on Thursday which could provide clues on the US Federal Reserve’s monetary policy path. The Dow Jones Industrial Average surged 407.80 points, or 1.16%, to 35,473.42, while the S&P 500 rose 40.28 points, or 0.90%, to close at 4,518.31. The Nasdaq Composite ended 84.73 points, or 0.61%, higher at 13,993.97.
Among active stocks, Berkshire Hathaway share price rose 3.41%, or $18,320 to $551,920 after the company reported its highest-ever quarterly operating profit. The stock rally gave Berkshire a market value of about $799 billion. The billionaire investor
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