asiapacific markets are set to rise after the sp 500 hit a new high for 2023 and the dow jones industrial average saw a third straight day of gains a key focus for next week would be the us federal reserves policy meeting on june 13 and 14 especially after jobless claims increased more than expected to their highest since october 2021 a potential sign that the labor market is softening up after more than a year of interest rate hikes asia investors will be watching for chinas consumer price index for may after the country saw its inflation rate sink to just 01 in april it lowest point since november 2020 producer prices meanwhile are expected to fall by 43 in may according to a reuters survey which would mark the lowest since mid2016 in japan the nikkei 225 continues to hover near 33year highs despite taking a breather in its rally in recent days the futures contract in chicago was at 31970 and its counterpart in osaka was at 31830 against its last close at 3164127 in australia futures for the spasx 200 were at 7133 higher than the indexs last close of 70997 while hong kongs hang seng index futures stood at 19379 pointing to a higher open compared to the hsis last close of 1929918 overnight in the us all three major indexes climbed higher with the nasdaq composite leading gains and advancing 102 while the sp 500 was 062 higher and the dow jones industrial average added 05 cnbcs hakyung kim and darla mercado contributed to this report