The recent bounce is not enough for many institutional investors, who cite a litany of risks confronting equities
Officials now see it taking much longer for inflation to reach their 2% target, which they have missed for nearly four years
Stocks fluctuated in the region, with the yen’s rise to around 141 per dollar pressuring those in Japan, an export-oriented economy. Australian and South Korea shares rose, following a fourth day of gains on Wall Street. Hong Kong futures were higher
The MSCI Asia Pacific Index rose 0.5% after falling more than 2% on Wednesday, its biggest drop since the August 5 rout. South Korea’s Kospi jumped more than 1%, led by a rebound in the shares of chipmakers. Japan’s benchmarks fluctuated following the yen’s strength.
"People are probably a little cautious about positioning ahead of PCE," said Sameer Samana, senior global market strategist at the Wells Fargo Investment Institute.
Few markets will be open to assess and respond to the fresh data, however, given the long Easter weekend in many countries.
The yield on benchmark 10-year U.S. Treasury notes hit a near one-month low then steadied as investors adjusted positions before Friday's release of the February U.S. payrolls report.
The dollar was essentially unchanged against a basket of world currencies at the top of an eventful week, packed with central bank activity and key U.S. employment data.
On Wall Street, the S&P 500 closed at a record high for the second day in a row, with a strong boost from the technology sector and falling Treasury yields adding to bullishness.
In this episode of Market Minutes, Vaibhavi Ranjan will shed light on the key factors that will guide market direction on February 14. Will the market sustain its uptrend or is code red going to take over today’s trading session? Also, in today's voice of the day segment, we have Divya Sood of Master Capital Services who shares her review of the Q3 earnings season. Market Minutes is a morning podcast that puts the spotlight on hot stocks, key data points, and developing trends.
Bonds were under modest pressure, as comments from Federal Reserve officials reaffirmed expectations that the central bank may not soon cut rates.
In currency markets, the dollar remained on the back foot and languished near a five-month low against a basket of currencies.
MSCI's broad gauge of world stocks traded flat, heading for a 0.1% weekly loss after five weeks of gains.
The MSCI All-World index slipped into negative territory following November 21's decline on Wall Street, after minutes from the Federal Reserve's most recent meeting offered little new insight into policymakers' thinking on rates.
Black Friday sales will test the pulse of the consumer-driven US economy this week.
The Fed on November 1 held interest rates steady as expected, and while Chair Jerome Powell left the door open to more tightening he also nodded to the impact of a recent surge in bond yields on the economy.
Most Asian and European bourses closed in the red.
The S&P 500 and Nasdaq are on track for their worst week since mid-March, while the dollar, up 0.17%, was headed for its 10th consecutive weekly increase, lifted by a fall in the euro on grim euro-zone economic data.
A private-sector survey showed on Tuesday that China's services activity expanded at the slowest pace in eight months in August as weak demand continued to dog the world's second-largest economy.
Oil rose 1% to hover above $87 a barrel as crude prices looked set to snap a two-week losing streak, buoyed by expectations of tightening supplies.
Beijing on Sunday said it would halve the stamp duty on stock trading, in its latest move to boost the struggling market and following its steps to support housing.
The MSCI All Country stock index climbed 0.4% in a second straight session of gains - pulling further away from Friday's 2-1/2 month trough.
Investors have bought the safe-haven dollar on the back of strong U.S. economic data and rising concerns about China. The euro was up 0.12% at $1.092.
Wall Street opened mixed, with the tech-heavy Nasdaq and the S&P 500 lower on investor caution a day before the release of the Consumer Price Index for June.
European stock indexes fell sharply, with the pan-European STOXX 600 down 0.6% and Germany's DAX dropping 1.57%. Britain's FTSE 100 was down 0.79%.