• By The Financial District


Asian stocks are set for a muted open Tuesday as the earnings season unfolds and amid expectations that the Federal Reserve will remain accommodative at its meeting this week despite robust growth, Andreea Papuc and Emily Barrett reported for Bloomberg News.

EON Reality is the global leader in Augmented and Virtual Reality-based knowledge and skills transfer for industry and education.

Futures in Japan, Australia and Hong Kong were little changed. US contracts traded in the green after the S&P 500 Index notched another record amid solid corporate earnings, with most of the main 11 industry groups gaining.

Tesla Inc. shares slipped in after-hours trade after the firm reported a profits beat but left the multiyear outlook for growth in deliveries unchanged. The U.S. 10-year Treasury yield hovered around its 50-day moving average, well below last month’s peaks, and the dollar was little changed.

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Copper, seen as a barometer of growth, surged to the highest in almost a decade. While emerging economies from India to Brazil are grappling with a COVID-19 surge or renewed curbs, the developed world is on a firmer recovery path with a faster pace of vaccinations.

US data this week are expected to show growth accelerated to 6.8% annualized in the first quarter, and robust consumer demand. These reports aren’t shifting the central bank’s highly accommodative stance, with the Fed expected to keep rates on hold and asset purchases unchanged at this week’s meeting.

“No actual changes in policy are expected and Chairman Powell would, no doubt, prefer that markets also assume no change in Fed thinking,” David Kelly, global market strategist at JPMorgan Chase & Co., said in a note.

Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

“However, it is hard to see how the Fed can ignore further stock market gains and recent much stronger-than-expected readings. Consequently, some upgrade to their description of current economic activity seems likely.”

S&P 500 futures rose 0.1% as of 7:36 a.m. in Tokyo. The index rose 0.2%. Nikkei 225 futures were down 0.1%. Australia’s S&P/ASX 200 Index futures were 0.1% higher. Hang Seng Index futures fell 0.2% earlier. The yen was at 108.18 per dollar. The offshore yuan was at 6.4738 per dollar.

The Bloomberg Dollar Spot Index was steady. The euro was little changed at $1.2087. The yield on 10-year Treasuries advanced one basis point to 1.57%. West Texas Intermediate crude was at $62.01 a barrel. Gold was steady at $1,781.07 an ounce Claire Ballentine and Vildana Hajric reported for Bloomberg News.


Happyornot makes feedback terminals measuring customer satisfaction sing smiley-face buttons.
EON Reality is the global leader in Augmented and Virtual Reality-based knowledge and skills transfer for industry and education.