Global markets today: Asian markets opened on a mix note on Thursday as investors priced in the likelihood of a U.S. Federal Reserve rate cut next month and awaited key Australian employment data due later in the day.
Japan’s Nikkei 225 slipped 0.31 per cent, pulling back from its record-high close in the previous session, while the broader Topix fell 0.64 per cent.
In South Korea, the Kospi rose 0.39 per cent, whereas the small-cap Kosdaq was little changed. Meanwhile, Australia’s S&P/ASX 200, meanwhile, gained 0.49 per cent.
Hong Kong’s Hang Seng index futures were at 25,741, indicating a stronger start versus the HSI’s previous close of 25,613.67.
U.S. stock market today
The S&P 500 and Nasdaq indexes closed at record highs for the second consecutive session on Wednesday, driven by optimism that the Federal Reserve may soon begin a monetary easing cycle.
The Dow Jones Industrial Average climbed 463.66 points, or 1.04 per cent, to 44,922.27. The S&P 500 advanced 20.82 points, or 0.32 per cent, to 6,466.58, while the Nasdaq Composite added 31.24 points, or 0.14 per cent, to finish at 21,713.14.
According to the CME’s FedWatch Tool, traders are now fully anticipating a 25 basis-point interest rate cut. The Fed last reduced rates in December.
Treasury Secretary Scott Bessent said on Wednesday that, considering the recent weak employment data, a sharp half-point rate cut could be on the table.
Meanwhile, Chicago Federal Reserve President Austan Goolsbee noted that the U.S. central bank is assessing whether the impact of tariffs on inflation will be short-lived or prolonged, a factor that will influence the timing of any interest rate cuts.
(With inputs from agencies)
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