Asian stocks rise after US payroll gains, oil falls with Israel troop withdrawal.

From Yahoo Finance: 2024-04-07 23:36:00

Asian stocks rose after better-than-expected US payrolls data, but oil fell as Israel announced troop withdrawal from Gaza. Japanese shares led the region while Chinese equities fell due to a petition against Shimao Group. US futures remained stable after Friday gains. Treasuries dipped as traders reassessed Fed rate cut prospects following stronger jobs report.

Oil prices fell over 1% as Israel pulled troops from Gaza while Iran prepared for potential conflict. Asia remains cautious amid ongoing geopolitical tensions. People’s Bank of China stabilized yuan after holiday, aiming to prevent further depreciation.

US stock futures stayed steady after S&P 500 and Nasdaq climbed 1% on Friday. Treasuries declined as Fed rate cut expectations eased following strong jobs report. Markets await US inflation data and first quarter earnings results for further insight.

Gold prices dropped after record high, with investors reconsidering Fed rate cut speculations. Market watchers focus on key events like central bank decisions, data releases, and corporate earnings reports this week. Stock and currency markets show mixed movement on Monday.

Topix, S&P/ASX 200, and Euro Stoxx 50 futures rose; Hong Kong’s Hang Seng and Nasdaq 100 futures stayed flat. Currencies were stable, with slight movements in bond and commodity markets. Bitcoin and Ether prices remained consistent. Market trends expected to be influenced by upcoming economic data and corporate earnings reports.



Read more at Yahoo Finance: Asian Stocks Follow US Payroll Gains, Oil Falls: Markets Wrap