Asia stocks rise as ECB appears set to cut rates and softer labor market fuels hopes the Fed might follow suit
Publishing timestamp: 2024-06-06 03:27:38
Summary
Asia-Pacific stocks rose on expectations of ECB rate cut and potential Fed rate cut. Nvidia led tech stocks higher in the US. Bank of Japan may reduce bond purchases. Australian exports fell, but trade surplus surged. Foxconn reported a rise in revenue. SoftBank shares surged amid news of activist investor Elliott Management rebuilding stake. European chip stock expected to drive AI developments. India's stock market has been volatile due to election results. Nvidia reached a market cap of $3 trillion. U.S. services sector expanded at a faster pace in May.
Sentiment: POSITIVE
Tickers: .SZI, @CL.1, NVDA, .AXJO, 2317-TW, @LCO.1, ETN, .SPX, .HSI, .NSEI, .SSEC, .DXY, MCK, .KS11, .IXIC, AUD=, JPY=, .N225, .DJI, AVGO,
Keywords: s&p/asx 200, markets, nasdaq composite, s&p 500 index, shanghai, cnx nifty index, wti crude (mar'23), nvidia corp, breaking news: asia, australia, ice brent crude (apr'23), world markets, dxy us dollar currency index, hang seng index, usd/jpy, nikkei 225 index, kospi index, prices, asia economy, economic events, australian dollar/us dollar fx spot rate, shenzhen component index, breaking news: markets, business news,
Source: https://www.cnbc.com/2024/06/06/asia-markets-live-updates-ecb-rate-cuts-sp-nasdaq-hits-records.html