Asian markets were trading mixed Monday as worries continued about economic growth, even as some hopes were perked by a recent rise in U.S. bank issues.
Traders are also focused on upcoming earnings reports from global companies. Worries continue about inflationary pressures, and how that might affect moves by the Federal Reserve and the world’s other central banks on interest rates.Traders are also focused on upcoming earnings reports from global companies. Worries continue about inflationary pressures, and how that might affect moves by the Federal Reserve and the world’s other central banks on interest rates.
China’s central bank kept the one-year medium-term lending facility rate unchanged at 2.75%, suggesting economic growth data to be released Tuesday won’t be too alarming. The S&P 500 still squeezed out a fourth winning week in the last five, built in part on hopes the Federal Reserve may soon end its barrage of rate hikes as inflation cools. High interest rates stifle inflation by slowing the economy, raising the risk of a recession and dragging on prices for investments.
High-growth stocks tend to be among the most hurt by high rates, and Big Tech stocks were among the heaviest weights on the S&P 500.
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