From NBC Digital LLC: 2024-04-02 20:10:21

Asia-Pacific markets are poised for declines following mixed sessions, with investors eyeing Tesla and BYD’s drop in vehicle sales. Concerns also loom over Wall Street declines, as Treasury yields rise, affecting rate cut expectations for the Federal Reserve in June. Data on China’s service sector is under scrutiny.

Despite Wall Street’s downturn, Japan’s Nikkei 225 futures indicate lower openings. Hong Kong’s Hang Seng index futures are marginally down, trailing the previous session’s gain. Australia’s S&P/ASX 200 declined by 0.5%.

The Dow Jones and S&P 500 fell, experiencing their worst day since March. The Nasdaq Composite also dropped significantly. Energy stocks globally, including iShares Global Energy ETF, reached new highs, driven by soaring oil prices. Companies like PetroChina, Canadian Natural Resources, ConocoPhillips, and Marathon Petroleum also saw peak performances.

San Francisco Federal Reserve President Mary Daly anticipates three interest rate cuts this year but emphasizes it’s not a guarantee. Daly is monitoring various indicators to make informed decisions. Market strategist Matt Orton highlights under-the-radar Japanese stocks for investment opportunities, while CNBC Pro offers insights for those seeking alternatives to volatile meme stocks.



Read more at NBC Digital LLC: Asia markets set to decline; shares of electric vehicle makers in focus – NBC 5 Dallas-Fort Worth