Asian Stocks Set to Follow US After ISM Miss, Jobs: Markets Wrap
Written by Black Hot Fire Network on January 8, 2023
(Bloomberg) -- Asian stocks rose in early trading after US equities had their best day in more than a month on Friday as traders speculate that an unexpected contraction in services activity and a slowdown in wage growth will temper the Federal Reserve’s rate hike aggression.
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Australian stocks gained 1% while US equity futures edged higher after the S&P 500 jumped more than 2% Friday to salvage the first weekly advance in the past five. Contracts for Hong Kong equities climbed 1.5% on Friday. Japanese markets are closed . . .
