From The Economic Times · Reuters · · 1m 10s
Asian Shares Cautious as Earnings Loom
Asian markets cautious ahead of tech earnings and oil volatility.
In brief
Asian markets cautious ahead of tech earnings and oil volatility. Asian shares fell 1.1% as tech earnings season approaches, oil slips amid Gulf strikes. Originally reported by The Economic Times.
Asian markets cautious
Asian share markets got off to a cautious start on Monday as earnings season loomed as a challenge to sky-high tech valuations.
South Korean stocks down
South Korean stocks fell 1.1% while MSCI's broadest index of Asia-Pacific shares outside Japan was little changed.
Oil prices choppy
Brent futures started higher but soon slipped 1.1% to $103.50 a barrel away from the recent top of $109.97.
US markets steady
S&P 500 futures edged up 0.2% while Nasdaq futures firmed 0.5% in Wall Street.
Tech earnings pressure
S&P 500 earnings expected to jump by more than 30% in Q3 with tech sector driving gains.
AI borrowing costs rise
Investors demand higher yields to fund AI borrowing as corporate debt pressures mount.
US inflation data coming
US CPI expected to rise 0.6% to annual 3.7% with core inflation cooling to 0.2%.
Oil prices drop
US crude futures lost 1.2% to $90.73 a barrel amid Gulf shipping strikes.
The bottom line
Asian shares fell 1.1% as tech earnings season approaches, oil slips amid Gulf strikes.
