On April 17, the global stock market had interesting statistics. Asian stocks traded cautiously, as U.S. earnings season gets into full swing, while a raft of Chinese data will offer insight into how the world’s second-largest economy is recovering.
Stocks in the markets have also seen a mood shift on the outlook for U.S. interest rates, with CME futures off, implying an 83% chance the Federal Reserve will hike by a quarter point to 5.0-5.25% in May.
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Resilience in core U.S. retail sales and a jump in inflation expectations reported on Friday have led investors to trim the amount of easing expected later this year to around 55 basis points.
MSCI’s broadest index of Asia-Pacific stocks outside Japan eased up by 0.3%, while Japan’s Nikkei went flat.
EURO STOXX 50 futures edged up 0.3% while FTSE futures also gained 0.2%.
Chinese blue chips added 0.7% ahead of data on retail sales while industrial output, and gross domestic product are due on Tuesday, where analysts suspect the risks are for an upside surprise given recent strength in trade.
Figures over the weekend showed new home prices climbing at the fastest pace in 21 months, supporting consumer demand and confidence.
