• By The Financial District

ASIAN STOCKS SET TO RISE AS FEARS OF INFLATION EASE

Asian stocks look set to rise Tuesday after technology shares spurred a Wall Street rally as Federal Reserve officials sought to soothe concerns about inflation. Bitcoin surged following last week’s crypto rout, Andreea Papuc reported for Bloomberg News on May 25, 2021.

Happyornot makes feedback terminals measuring customer satisfaction sing smiley-face buttons.

Futures pointed higher in Japan, Australia, and Hong Kong. US contracts edged up after the S&P 500 climbed and the Nasdaq 100 outperformed amid a jump in Apple Inc., Amazon.com Inc., and Tesla Inc. Bitcoin soared in part on Elon Musk’s support for an apparent effort to improve its green credentials.


The Fed comments aided investor sentiment, as officials reiterated that they expect transitory rather than lasting price pressures from the U.S. economic reopening. Benchmark 10-year Treasury yields and the dollar retreated.


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

Fed officials Lael Brainard, Raphael Bostic, and James Bullard said they wouldn’t be surprised to see bottlenecks and supply shortages push prices up in coming months as the pandemic recedes, but that much of those gains should prove temporary.


While market-based measures of inflation expectations have dipped, investors remain cautious about price pressures as well as COVID-19 spikes, for instance in Asia.


S&P 500 futures rose 0.2%. The index added 1%. Nasdaq 100 contracts increased 0.2%. The gauge added 1.7%.


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

Nikkei 225 futures climbed 0.5%. Australia’s S&P/ASX 200 index futures gained 0.3%. Hang Seng index futures rose 0.3%. The Japanese yen was at 108.80 per dollar. The offshore yuan traded at 6.4119 per dollar.


The Bloomberg Dollar Spot Index was steady. The euro was at $1.2216. The yield on 10-year Treasuries declined two basis points to 1.60%. West Texas Intermediate crude was steady at $66 a barrel. Gold was little changed at $1,881.24 an ounce, Rita Nazareth, Vildana Hajric, and Katherine Greifeld reported for Bloomberg News.



WEEKLY FEATURE : TRUEMONEY PHILIPPINES BUCKS THE COVID-19 CHALLENGE

Happyornot makes feedback terminals measuring customer satisfaction sing smiley-face buttons.
Happyornot makes feedback terminals measuring customer satisfaction sing smiley-face buttons.