World stocks were mixed Tuesday after a Wall Street rally driven by heavy buying of tech shares as investors bet the Federal Reserve will trim its rate hikes as it makes headway in tamping down inflation.
A person walks in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm, Jan. 24, 2023, in Tokyo. World stocks were mixed Tuesday after a Wall Street rally driven by heavy buying of tech shares as investors bet the U.S. Federal Reserve will trim its rate hikes as it makes headway in tamping down inflation.
Tokyo's Nikkei 225 index gained 1.5% to 27,299.19 and the Sensex in Mumbai added 0.1% to 61,977.27. Australia's S&P/ASX 200 rose 0.4% to 7,490.40 while the SET in Bangkok was up 0.1%. "And if one takes a look under the hood, in the heat of the moment, it has that unmistakable feel of pandemic-era trading, supported by solid moves in mega cap tech stocks," he said.
Markets have been swinging between hope and caution as investors watch to see if the Federal Reserve will dial back on interest rate hikes meant to tame inflation, which has begun to ease in many countries. The fear is that the Fed and other central banks might go too far, tipping the U.S. and other economies into recession by slowing spending and investment too much.
Corporate earnings are seen as a good indicator of how well companies are coping with the slowing economy and higher costs. Profits are one of the main levers that set stock prices.
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