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Asian Stocks Set to Track US Higher, Led By Japan: Markets Wrap [Yahoo! Finance Canada]
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Most Read from Bloomberg Equity futures signaled that Japanese stocks, which were closed on Monday, may rally more than 1% after the yen surged back from its weakest level against the dollar in 34 years. Hong Kong and Australian shares were also set for gains in early trading, after the S&P 500 continued its month-end rebound despite bets the Federal Reserve will keep interest rates higher for longer. ADVERTISEMENT Early results from the US reporting season suggest that more than 80% of companies are beating expectations. First-quarter earnings are now on track to increase by 4.7% from a year ago, compared with the pre-season estimate of 3.8%, according to data compiled by Bloomberg Intelligence. Amazon.com Inc. is seen joining the pack this week with a jump in sales. Apple Inc. likely had a tougher time, with profit expected to be lower as iPhone sales slid. Chipmakers Advanced Micro Devices Inc. and Qualcomm Inc. probably eked out revenue growth. “Last week, big-tech enth
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