(Bloomberg) -- Stocks in Asia were primed for gains Thursday after further signs the Federal Reserve will cut interest rates next month lifted Wall...
-- Stocks in Asia were primed for gains Thursday after further signs the Federal Reserve will cut interest rates next month lifted Wall Street.Share futures for Japan , Australia and Hong Kong all rose, while a gauge of US-listed Chinese shares climbed 2.4%. Contracts for US equities also edged higher in early Asian trading after the S&P 500 and Nasdaq 100 indexes both advanced Wednesday.
“The Fed minutes removed all doubt about a September rate cut,” said Jamie Cox at Harris Financial Group. “The Fed’s communication strategy is to make its meetings less of a market moving event, and they are following the script to the letter.” Elsewhere, China launched an anti-subsidy investigation into dairy imports from the European Union, as trade tensions escalated between the two sides. The probe will target several dairy products, including fresh and processed cheese, China’s Ministry of Commerce said in a statement Wednesday.The Jackson Hole economic symposium kicks off Thursday — with Fed Chair Powell expected to speak on Friday morning.
“Since most economies are expanding, inflation is easing back to target and financial markets have stabilized after the recession scare a few weeks ago, there is less pressure for them to steer markets than there has been around past events,” she noted. “But they risk keeping rates too high for too long.”
SAO PAULO — The governor of Brazil’s Tocantins northern state on Wednesday denied any wrongdoing, hours after the country's federal police carried out search warrants targeting him and other 41 people as part of an investigation into alleged fraud and graft related to COVID-19 funds.FORT SMITH, Ark. — A county in western Arkansas has approved a $3 million settlement with the family of a man who died from dehydration and malnutrition while being held in a local jail.
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