(Bloomberg) -- Asian stocks look set for a mixed opening, after Wall Street rose ahead of key US data that’s expected to show how close the Federal Reserve is from ending its rate hikes. Most Read from BloombergTrudeau Is Stuck in India With Faulty Aircraft After Hearing Criticism From ModiThe Mighty American Consumer Is About to Hit a Wall, Investors SayTesla and China Risk Leaving Volkswagen on a Road to NowhereTech Giants Power Stock Gains as Tesla Jumps 10%: Markets WrapMorgan Stanley Sees D
Futures in Japan pointed to gains, while Australian shares are poised to open flat and Hong Kong may dip. In the US, tech stocks led the way forward with the Nasdaq 100 rising 1.2%. Tesla Inc. rallied 10% as Morgan Stanley said its Dojo supercomputer may boost value by up to $500 billion. Qualcomm Inc. climbed after Apple Inc. extended a deal with the chipmaker.
Focus in Asia remains on hopes for China’s recovery, amid fresh signs on Monday that Asia’s biggest economy may finally be starting to improve. Deflationary pressures eased and the yuan rallied, while strong credit data showed recent steps to bolster the real estate market may be starting to lift household demand for mortgages.
In the US, consumers’ inflation expectations were mostly stable in August, but households grew more concerned about their finances and more pessimistic about the job market, according to a Fed Bank of New York survey. The consumer-price index report Wednesday will provide the latest insight into how much further the Fed may need to go to pull inflation back toward its target.
“Bullishness is relatively high while the Fed remains shy of its inflation target,” John Stoltzfus, chief investment strategist at Oppenheimer & Co., wrote. He said investors should curb their enthusiasm for a long rate pause or even a rate cut and instead “right-size expectations.”
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Asia Futures Mixed After Tech Stocks Lead US Rally: Markets WrapAsian stocks look set for a mixed opening, after Wall Street rose ahead of key US data that’s expected to show how close the Federal Reserve is from ending its rate hikes.
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S&P/TSX composite up in late-morning trading, U.S. stock markets also higherTORONTO — Strength in the base metal stocks helped lead Canada's main stock index higher in late-morning trading, while U.S. stock markets also rose to start the trading week. The S&P/TSX composite index was up 97.69 points at 20,172.34.
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