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Financial Markets
Posted on 2023-04-07 13:06:14
Asian stock markets are following Wall Street higher today, ahead of a U.S.
job market update that traders hope might encourage the US Federal Reserve to
ease off plans for more interest rate hikes.

Shanghai, Tokyo, and Seoul gained, while Hong Kong and Australian markets
were closed for a holiday.

Traders who worry higher interest rates might tip the global economy into
recession looked ahead to U.S. government data that are expected to show the
job market is cooling.

They hope that might prompt the Fed to decide aggressive rate hikes are no
longer needed to extinguish inflation.

The U.S. economy has been slowing but inflation still is higher than the
Fed's 2% target.

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