Welcome to Extreme Investor Network, where we bring you the latest news and insights from the stock market, trading, and Wall Street. In today’s update, we take a look at how the US equity markets reacted to recent events and what to expect in the upcoming Asian market session.
On Tuesday, the Nasdaq Composite Index and the S&P 500 saw gains of 0.59% and 0.02%, while the Dow declined by 0.55%. These movements were influenced by consumer confidence numbers and Fed commentary. The US equity market session will likely set the tone for the Wednesday Asian market session on May 29th.
In Asia, investor focus will be on Australian inflation numbers and Japanese consumer confidence figures. Economists are forecasting a slight dip in the Monthly Inflation Indicator in Australia from 3.5% to 3.4% in April. Any surprises in the data could impact investor bets on an RBA rate hike and ASX 200-listed stocks.
Meanwhile, in Japan, the Consumer Confidence Index is expected to increase from 38.3 to 38.9 in May. This uptick in consumer confidence could signal a rise in consumer spending and inflationary pressures, leading investors to consider a potential Bank of Japan rate hike for price stability.
Keeping an eye on Bank of Japan commentary is also crucial, with Board member Seiji Adachi scheduled to speak. Investors will be looking for insights on the timing of an interest rate hike and its potential impact on the market.
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