Today’s Market News |
Key developments that could provide more direction to markets on Tuesday:
Japan unemployment rate (June)
Australia building approvals (June)
Samsung earnings (Q2)
Asian equities appear to have stopped the recent rot, with some benchmark indices on Monday chalking up their best day in two weeks – the MSCI Asia ex-Japan index rose 0.7%, the Hang Seng rose 1.3%, and Japan’s Nikkei jumped 2.1%.
That was the Nikkei’s best day since April – an impressive bounce from a three-month low, but it did follow eight straight down days, its worst run in almost three years.
Can Asia take heart from U.S. and world stocks’ performance on Monday?
The recent rotation out of U.S. Big Tech into small caps stalled, with the Russell 2000 heavily underperforming tech and the Nasdaq more broadly. The S&P 500 barely rose 0.1% – a tiny gain, but the first time in two weeks that the index has risen two days in a row.
