Michael H
Japan (NKY:IND) +0.41%. Japan's services sector gauge unexpectedly fell to 47.4 in April 2024 from 49.8 the previous month, lagging the market consensus of 50.4.
Japan's current account surplus rose to 3,398.8 billion yen in March 2024 compared to the Japanese yen. 2,360.0 billion in the same month of the previous year.
Domestically, data showed that household spending in Japan fell 1.2% year-on-year in March, less than the 2.4% decline that analysts had expected.
The value of loans in Japan rose 3.1% year-on-year in April 2024, slowing from 3.2% growth in March which was the fastest pace in ten months.
China (SHCOMP) +0.01%. The Biden administration took action Thursday by adding 37 Chinese entities to a list of trade restrictions, including those accused of supporting a spy balloon that flew over the United States last year, a move that escalated tensions between Beijing and Washington.
Meanwhile, investors are eagerly awaiting key inflation numbers from China to assess the health of the economy and the path of monetary policy.
Hong Kong (HSI) +2.30%. The Hang Seng Index is pointing to a third straight weekly gain, up about 1.3%, and rising for a second session to hover at eight-month highs, as China is reported to be considering an exemption from the profits tax.
India (Sensex) +0.24%.
Australia (AS51) +0.35%.
In the US, all three major indexes rose on Thursday as a jump in US weekly jobless claims reinforced bets on an interest rate cut by the Federal Reserve. Higher commodity prices also helped the stock market, as a decline in the dollar and Treasury yields lifted riskier assets.
Fed Governor Michael Bowman, Austin Goolsbee of Chicago, Neel Kashkari of Minneapolis, and Lori Logan of Dallas will speak later today.
Markets are looking to ongoing US data and comments from other Fed officials for a clearer direction on the interest rate path.
US stock futures rose on Friday after a positive session for the major averages, with the Dow Jones extending its winning streak to a seventh day: Dow Jones +0.24%; Standard & Poor's 500 +0.19%; Nasdaq +0.23%.
Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).