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Asian Stocks Set for Gains as US Inflation Cools

Bloomberg Markets •
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Asian stocks were poised to extend gains Friday as further evidence of moderating US inflation and a pullback in oil prices reinforced bets that the Federal Reserve will refrain from raising interest rates next month.\n\nEquity-index futures pointed higher in Japan and South Korea, putting MSCI’s Asia Pacific Index on track for a third day of gains, while Australian contracts fell. US futures edged higher after the S&P 500 rose 0.7% Thursday to a record, while the Nasdaq 100 jumped 1.15% to its highest since late June as increased hyperscaler spending buoyed tech shares.\n\nUS crude slipped 0.2% early Friday, snapping its run of gains. Former Dallas Fed President and Goldman Sachs Vice Chair Robert Kaplan said the Federal Reserve was right to hold rates in July, speaking on "Bloomberg Surveillance."