Asian Indices and U.S. Futures Looses Steam
Disappointing earnings, slower growth and inflationary fears leave equity markets with no support factors
Disappointing earnings, slower growth and inflationary fears leave equity markets with no support factors
29 ต.ค. 2564

U.S. futures tracked loss on opening factoring in disappointed quarterly result slip of Amazon and Apple along with economic risk of growth decline and inflation surge.
The S&amp;P Futures, Mini Dow Jones and Nasdaq in the red by 0.46%, 0.21% and 0.46% respectively as of Thailand 14:09 hours.
Asian shares are tracking losses on Nasdaq Futures with MSCI Asia ex Japan in red down by 0.46%. The Nikkei rebounded from today’s loss gaining 72.60 translating to 0.25%.
Traders in the bond and currency markets are heavily pricing in stance on inflationary pressure by central banks globally.
President of European Central Bank (ECB) on Thursday shunned down market expectations of rate hike in 2022. ECB is to maintain rate and monetary stance unchanged despite surging inflationary pressure.
Global market strategist at JPMorgan Asset Management, Kerry Craig told Reuters, “The background noise hasn’t changed for the last few weeks, people are still concerned around stagflation, slowing growth numbers and rising inflation, but that’s been priced more in the bond market than the equity market right now,”
Hang Seng Index in red during near closing hours losing 208.65 points while HSI Property Index lost 290.79 (-0.93%).
The S&amp;P 500, Nasdaq and Dow Jones Industrial Average overnight closed at record levels on earnings season optimism.