From BNN Bloomberg: 2024-05-19 19:13:40

Asian stocks are expected to rise after US equities hit a new high due to strong corporate earnings and China’s efforts to support its property market. Traders eye Beijing’s property market rescue and trade tensions with Europe. US stocks edge higher on optimistic earnings. Federal Reserve rate cut anticipated. The Fed’s focus remains on elevated cost pressures. Market watchers expect further two rate cuts this year. In other news, oil and gold hold steady amid turmoil in Israel and the missing Iranian president. Economic data expected from Europe and US. Central banks set to announce policy rate decisions. Stocks: S&P 500 futures up 0.1%, Hang Seng futures up 0.8%, S&P/ASX 200 futures up 0.4%, Nikkei 225 futures down 0.1%. Currencies: Euro stable at $1.0871, Japanese yen stable at 155.66 per dollar, offshore yuan stable at 7.2339 per dollar, Australian dollar stable at $0.6695. Cryptocurrencies: Bitcoin up 0.3% at $66,387.98, Ether stable at $3,077.13. Commodities: WTI crude stable, spot gold rose 0.1% at $2,417.67 an ounce. Bonds: 10-year Treasury yield rose 4 basis points to 4.42% on Friday.



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