Asia markets to rise while U.S. jobs report hints at room for more hikes, Adani saga continues
Publishing timestamp: 2023-02-05 18:53:19
Summary
Stocks in Asia-Pacific are set to rise despite a stronger-than-expected jobs report from the US, which worries investors that the Federal Reserve has room for more interest rate hikes. Adani Group stocks will be closely watched at Mumbai open due to allegations of stock manipulation and accounting fraud. Stocks on Wall Street fell on Friday after the jobs report, and the 10-year Treasury yield topped 3.5%. The US economy added 517000 jobs in January, and the Federal Reserve is likely to raise interest rates to its forecast 5.25%. The futures market is now pricing in a 25 basis point hike for March and a higher chance for a quarter point hike in May.
Sentiment: MIXED
Tickers: @CL.1, .HSI, AAPL, @LCO.1, .KS11, .N225, .AXJO, .SZI, AUD=, JPY=, .DXY, .SSEC,
Keywords: breaking news: asia, kospi index, ice brent crude (apr'23), australian dollar/us dollar fx spot rate, dxy us dollar currency index, usd/jpy, nikkei 225 index, breaking news: markets, s&p/asx 200, markets, hang seng index, business news, shenzhen component index, shanghai, asia economy, wti crude (mar'23), world markets,
Source: https://www.cnbc.com/2023/02/06/asia-markets-obs-report-hikes-adani-continues.html