Asian Stocks to Open Higher After US Notches Gains: Markets Wrap [BNN Bloomberg (Canada)]
Apple Inc. (AAPL)
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Source: BNN Bloomberg
While much of the Asian region including Australia, Hong Kong and Singapore is closed for holidays, markets in Japan, mainland China and South Korea are open for trading. Futures contracts for the Nikkei 225 index point higher, while a gauge of US-listed Chinese companies suggest potential gains in the mainland. Wall Street traders sent the S&P 500 to its 22nd record this year after data showed the economy is in good shape, offsetting the latest Fedspeak that reinforced bets officials will be in no rush to cut rates. A $4 trillion surge in US equity values in just three months has startled doomsayers, while leaving a host of strategists scrambling to update their 2024 targets. “We think the market's view of where economic fundamentals are heading, rather than any one economist's or strategist's view, is what ultimately drives stock market pricing,” said Lori Calvasina at RBC Capital Markets. Stocks edged up after spending most of the day struggling for direction, with traders r
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