Asia markets set to fall ahead of key economic data from China
This is CNBC Live Blog covering Asia-Pacific markets.
Investors are expecting Asia-Pacific markets to drop on Monday, as they await important economic data from China. These include the gross domestic product (GDP) figures for the second half of the year and industrial production numbers for June.
Last week was a
Reuters poll showed
The GDP growth is only 7.3%, but this is a very low base. "[Recovery] momentum has rapidly slowed down, leading to expectations that Beijing will need to introduce more stimulus measures in the near future."
Hong Kong
Hang Seng index
After a five-day winning streak, the futures are at 19,319 compared with the HSI’s last close of 19413.78.
Futures in Australia are available for all currencies
S&P/ASX 200
The index is now at 7,264. This is lower than its last close of 7,303.1. Later this week, the Reserve Bank of Australia will release its unemployment statistics. These will provide clues as to their rate decisions.
Japan's markets will be closed on Monday for the holiday. However, more data about trade from South Korea, Singapore and Indonesia will be released.
The U.S. market was mixed on Friday.
Dow Jones Industrial Average
Earnings season has begun with strong results from the largest banks and companies, which have helped to boost the market to its highest level since march.
Then, there is the
S&P 500
The 0.10% drop in the NASDAQ dropped to a 0.00% decline, and
Nasdaq Composite
Both indexes fell 0.18% but reached their highest intraday level since April 2022.
Hakyung Kim of CNBC and Tanya Macheel have contributed to this story
IMF: Global headline inflation has peaked.
The headline inflation rate in the Group of 20 countries seems to be at its peak.
According to
The International Monetary Fund. In most G20 countries and particularly in the advanced economies, the core inflation rate remains above the central bank's target.
In the fight against the inflation, there are early signs that monetary policy is affecting activity. Bank lending standards have tightened in the Euro area and the United States. However, policymakers must avoid "premature celebrations": previous inflationary episodes have shown that easing the policy too soon can reverse progress made on inflation. This was written by IMF managing director Kristalina G. Georgieva in a note published Friday.
The IMF predicts that global growth will fall to around 3% over the medium term, lower than its historical average of 3,8% from 2000 to 2019.
-- Hakyung Kim
International Monetary Fund: China's economic growth is slowing
According to the International Monetary Fund, China's growth is slowing down due to a decline in private investment and a decrease in exports as well as lowered domestic demand.
The spokesperson of the organization
Julie Kozak stated in a press briefing
"Growth has slowed recently in China due to lower than expected private investments" and pointing out a recent drop in exports following a strong performance in the 1st quarter of the year.
The IMF's World Economic Outlook will reflect an "updated" forecast for China.
Jihye Le
Earnings rain down on investors as they expect a positive market trend in the coming week
The week ahead could see stocks continue to rise as traders focus on earnings after last week's soft inflation news.
Major benchmarks are set for a positive Friday, after June's encouraging consumer and wholesale prices cemented the likelihood of the Federal Reserve ending its rate-hiking program. According to the Traders' View, there is a 95% chance that the Federal Reserve will raise rates at its July meeting.
CME Group's FedWatch Tool
They are 81% certain that the Fed will remain steadfast in September.
Rob Williams, Sage Advisory, said: "I think that the Fed has already committed to another hike." "But with this inflation data, it seems like they're done."
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Here is a link to the article
.
-- Sarah Min
Over a third (35%) of the new 52-week S&P 500 highs are records.
Three of the 32 (or more) stocks that made new 52-week records in the S&P 500 on Friday also traded at all-time highs. Three of the 32 stocks (
JPM
,
The V-shaped adolescent
,
The following are some of the most common ways to contact us:
The Dow Jones Industrial Average also includes homebuilders. Homebuilders are responsible for three of the highest-ever peaks. Nvidia is also a big player.
Netflix
The highest price since February 2022
Booking Holdings
. Trading at record highs back to 1999 IPO
D.R. Horton
IPO
Lennar
All-time high since the start of trading in 1970
PulteGroup
Trading at its highest level since the IPO of 1972
CBOE Holdings
IPOs have reached their highest level since 2010.
Intercontinental Exchange
The highest level since April 2022
JPMorgan
JPM reaches highest level since February 2022
Moody's
The highest level since February 2022
S&P Global
The highest level since April 2022
Visa
The highest level since August 2021
Align Technology
The highest level since April 2022
Cooper Companies
The highest level since April 2022
DexCom
The highest level since December 2021
IDEXX Laboratories
The highest level since April 2022
The Intuitive Surgical
The highest level since January 2022
Steris
The highest level since June 2022
Copart
IPO - a record high dating back to 1994
Masco
The highest level since February 2022
Rollins Inc
The highest level since the start of trading in 1968
Adobe
The highest level since February 2022
Ansys
The highest level since January 2022
Cadence Design Systems
Since 1987, when the predecessor ECAD was first publicly traded
Salesforce.com
The highest level since February 2022
Fortinet
IPOs have reached their highest level since 2009.
Gartner
The highest level since November 2021
ServiceNow
The highest level since March 2022
NVIDIA
IPO reaches all-time highest since 1999
ON Semiconductor
IPO reaches all-time highest since 2000
Teradyne
The highest level since April 2022
Sherwin-Williams
The highest level since June 2022
Equinix
The highest level since January 2022
AT&T's stock price hit a 20-year-low, but only five S&P 500 stocks reached 52-week lows on Friday.
-- Scott Schnipper, Christopher Hayes