China stocks eye gains; S&P 500 steady on Powell: Markets wrap
[hfe_template id='11223']
[ad_1]
Shares in Australia and Japan fell Wednesday while Chinese futures pointed to gains ahead of key economic data after fresh highs of US equities. Hong Kong futures contracts rose earlier, following a Tuesday rally for mainland stocks and a gauge of US-listed Chinese shares. The S&P 500 advanced for a sixth consecutive session, its longest winning streak since January, as traders held to bets the Federal Reserve will cut rates this year. The Nasdaq 100 also set a fresh record. Fed chief Jerome Powell was careful not to offer a timeline for rate cuts in comments to lawmakers on Tuesday. However, he emphasized mounting signs of a cooling job market after government data showed a third straight month of rising unemployment. Australian bonds fell in early trading, echoing moves in long-dated Treasuries. Shorter-term Treasuries outperformed Tuesday on bets they would more likely benefit from policy easing. The rhetoric “continued to move tow...