Asian shares are mostly higher while US futures and oil prices hold steady
Summary
Asian stock markets mostly rose Monday, following a small drop in U.S. stocks after weaker economic data. U.S. stock futures and oil prices remained steady amid concerns about economic growth and inflation.Key Facts
- Tokyo’s Nikkei 225 index rose 0.3% after Japan reported its economy grew 1.1% yearly in the second quarter.
- Hong Kong’s Hang Seng increased by 1.6%, and Shanghai’s index went up 0.8%.
- U.S. stocks fell slightly on Friday after reports showed consumers spent less in July.
- The Federal Reserve may keep interest rates low due to slower growth but high inflation remains a concern.
- Oil prices stayed mostly steady with Brent crude at $88.62 per barrel and U.S. crude at $82.19 per barrel.
- The Strait of Hormuz is nearly closed, raising concerns about oil supply stability from the Middle East.
- Major U.S. retailers like Home Depot, Target, Lowes, and Walmart will report earnings this week.
- The Federal Reserve will release meeting minutes on Wednesday to clarify its interest rate plans.
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