Nasdaq 100, ASX 200, Straits Times Forecast: Will This Rebound Last?
Sep 15, 2020 (MENAFN via COMTEX) —
(MENAFN – DailyFX) NASDAQ 100, ASX 200, STRAITS TIMES INDEX OUTLOOK:
Nasdaq 100 index gained 1.8%, boosted by vaccine hopes and Oracle’s potential deal with TikTok Australia’s ASX 200 opens flat, oscillating around 5,900 while momentum turning bullish Singapore’s Straits Times Index isn’t inspired by US tailwinds, finding support at 2,500 Nasdaq 100 Index Outlook:
The Nasdaq 100 index futures have retraced slightly at early Asia hours, after rising more than 1.8% on Monday. Sentiment has shown signs of improvement on Wall Street as Pfizer’s CEO signaled that a Covid-19 vaccine is ‘likely’ to be deployed to the US public by the end of this year. Besides, US tech giant Oracle is in a potential deal to acquire TikTok’s US operations after Microsoft’s withdrawal. Oracle’s share price advanced 4% before a trading halt took place.
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While Wednesday’s FOMC meeting and Thursday’s BOJ andBoE interest rate decisions are among the top events this week, there are some key data to be watched out for today. China’s August industrial production and retail sales are in particular focus.
Chinese industrial production is expected to continue its expansionary trajectory in August, with economists forecasting a 5.1% annualized pace of growth from a year ago. Retail sales growth remained in a soft patch, but is gradually recovering from negative territory in the recent months.
China Industrial Production YoY (%) – Forecast
China Retail Sales YoY (%) – Forecast
Source: Bloomberg, DailyFX
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