A look at the day ahead in Asian markets from Jamie McGeever.Asian stocks could be poised to end a volatile and dramatic week on a strong note on Friday, especially tech, lifted by the Nasdaq's best day in three weeks on Thursday and hope that U.S. lawmakers are close to a deal on the debt ceiling.
Asian stocks could be poised to end a volatile and dramatic week on a strong note on Friday, especially tech, lifted by the Nasdaq's best day in three weeks on Thursday and hope that U.S. lawmakers are close to a deal on the debt ceiling.
The dollar broke above 140.00 yen for the first time in six months and could extend those gains on Friday if Tokyo inflation figures for April are on the weak side, taking the heat of the Bank of Japan to rethink its ultra-loose policy. A strengthening dollar, higher implied Fed rates and rising U.S. bond yields often dampen risk appetite but the momentum in tech stocks, and in particular the euphoria around artificial intelligence, is something to behold.
While there is still no official deal in Washington on the debt ceiling, investors are acting like there will be one soon - Democrats and Republicans are just $70 billion apart on discretionary spending cuts which, once agreed, should seal the deal.
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