Investors are keeping a close eye on potentially market-moving reports this week, as Asian shares mostly rose on Tuesday. Japan’s Nikkei 225 jumped 1.0%, Sydney’s S&P/ASX 200 rose 0.2%, and South Korea’s Kospi added 0.5%. However, Hong Kong’s Hang Seng and Shanghai Composite both saw slight declines.
On Wall Street, the S&P 500, Dow Jones Industrial Average, and Nasdaq composite all posted gains, with solid earnings reports driving the market higher. Companies like Amazon and Apple are set to report their first-quarter profits this week, with expectations high following better-than-expected results from other companies.
The Federal Reserve is set to announce its latest policy decision on Wednesday, with no expected changes to interest rates. However, investors will be watching for clues on when the first rate cut could come, as inflation remains a key concern. Fed Chair Jerome Powell may provide more insight during his news conference following the decision.
The bond market saw the yield on the 10-year Treasury ease slightly, while in energy trading, benchmark U.S. crude and Brent crude both saw declines. In currency trading, the U.S. dollar rose against the Japanese yen and the euro.
Overall, investors are cautiously optimistic about the market outlook, with hopes that the job market will remain strong enough to support the economy without fueling inflation. Friday’s jobs report will provide further insight into the state of the economy and could impact the Fed’s future decisions.
