US Futures Edge Up as AI-Stock Rally Pauses Before Key Inflation Data – Asia Market Wrap
US equity-index futures inched higher in Asian trading after signs of fatigue in the AI-driven rally caused two days of declines on Wall Street.
Contracts for the S&P 500 and the Nasdaq 100 indexes rose 0.1% in a sign the rally may resume after the brief pause. Asian shares gained 0.2% while stocks in Hong Kong edged up as the city returned to normalcy after Super Typhoon Ragasa. Technology firms advanced. Copper remained near the highest in more than a year after Freeport declared force majeure on contracted supplies from its Grasberg mine in Indonesia.
The dollar edged lower while oil dipped following its biggest jump since July. Treasuries gained slightly, with the yield on the 10-year falling one basis point to 4.13%. In Japan, a 40-year government bond auction drew a demand ratio that was stronger than its 12-month average.
Traders have flocked to Nvidia and Alibaba as the firms pour billions into artificial intelligence, a theme that has powered file rise in US and Chinese stocks this year. That rally now faces a test with Friday’s US personal consumption expenditures report, as traders look for clues on how the inflation reading could shape the path of interest rates.
