Global Markets Today: Asian markets continues to show a mixed trend on Tuesday as investors awaited the Reserve Bank of Australia’s (RBA) interest rate decision later in the day.
According to reports, RBA is likely to keep its cash rate unchanged at 3.6 per cent, with elevated inflation limiting room for monetary easing.
Australia’s S&P/ASX 200 inched up 0.1 per cent, while Japan’s Nikkei 225 slipped 0.17 per cent and the Topix declined 0.21 per cent. In South Korea, the Kospi gained 0.27 per cent and the Kosdaq rose 0.18 per cent.
Meanwhile, Hong Kong’s Hang Seng index futures stood at 26,735, above the previous close of 26,622.88.
US stock market today
U.S. stock indexes ended higher on Monday, with the Nasdaq outperforming as investors picked up major technology shares, brushing aside concerns over a possible government shutdown and the Federal Reserve’s hawkish comments.
Technology stocks gave the S&P 500 its strongest push, supported by optimism around artificial intelligence growth and expectations that the Federal Reserve will continue lowering interest rates amid ongoing inflation pressures and labor market challenges.
The Dow Jones Industrial Average advanced 68.78 points, or 0.15 per cent, to close at 46,316.07. The S&P 500 added 17.51 points, or 0.26 per cent, finishing at 6,661.21, while the Nasdaq Composite climbed 107.09 points, or 0.48 per cent, to 22,591.15.
Meanwhile, investors kept a close watch on Fed officials’ remarks for signals of concern about a possible loss of economic clarity if a government shutdown were to occur.
According to CME Group’s FedWatch tool, traders are currently factoring in nearly an 89% probability of a 25-basis-point rate cut at the upcoming Fed meeting.
(With inputs from agencies)
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