Asian Stocks Advance On Tech Rebound Ahead Of Fed: Market Wrap
Jan 29, 2025 - ndtvprofit.com
Asian stocks advanced on Wednesday, driven by a rebound in technology shares following Wall Street's recovery from a recent selloff. The focus is on the Federal Reserve's upcoming rate decision and US mega-cap earnings. Japanese and Australian markets saw gains, while most other major Asian markets remained closed for Lunar New Year. Investors are closely watching the Fed's decision, with expectations that borrowing costs will remain steady amid healthy demand and persistent inflation. The market is also anticipating the start of the Big Tech earnings season, which will be a critical test for AI investments.
In the US, the S&P 500 and Nasdaq 100 saw gains, while US equity futures slightly declined. The dollar and oil prices rose, with West Texas Intermediate crude advancing. Bond traders are hopeful for a potential rate cut in March, although the Fed meeting is expected to be uneventful for the stock market. Key events this week include earnings reports from major companies like Tesla and Microsoft, as well as economic data releases from the US and Eurozone. Bitcoin and Ether experienced modest gains, while the yield on 10-year Treasuries remained unchanged.
Key takeaways:
Asian stocks advanced due to a tech rebound ahead of the Federal Reserve's rate decision.
Fed officials are expected to hold borrowing costs steady amid healthy demand and stubborn inflation.
Investors are focusing on US mega-cap earnings and the Federal Reserve's rate decision as key events this week.
Bitcoin and Ether saw slight increases, while the yield on 10-year Treasuries remained unchanged.
