Equities edge higher as investors cheer a rebound in US payrolls, but they remain cautious ahead of US earnings season
Pedestrians walk past an electronic board showing the Nikkei stock index outside a brokerage in Tokyo, Japan. Picture: REUTERS/KIM KYUNG-HOONAsian shares inched up to seven-month highs on Monday as investors cheered a rebound in US payrolls and hints of more stimulus in China, though there was some caution ahead of what is likely to be a tough US earnings season.
Japan’s Nikkei also made its high of the year so far and was last up 0.1%. E-Mini futures for the S&P 500 were little moved. “Markets will be looking at just how dovish the FOMC has become,” wrote analysts at TD Securities in a note. “We put a very low but not zero chance on a rate cut discussion; conversely rate hikes are still on the horizon for the majority of Fed officials.Jobs relief
“It plays to idea that the US economy remains reasonably robust, and does not justify any rate cut expectations over say the next six months, and is to that extent going to play to buying US dollar dips versus the majors.”
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