Asia-Pacific markets set to track Wall Street gains ahead of key regional data
Cityscape and Tokyo Tower at sunset, Tokyo, Japan.
© Marco Bottigelli | Moment | Getty Images
Asia-Pacific markets are set to climb Wednesday, tracking Wall Street gains while anticipating a slew of key economic data in the region.
Japan's benchmark Nikkei 225 is set to open higher, with the futures contract in Chicago at 36,080 while its counterpart in Osaka last traded at 36,070, against the index's last close of 35,839.99.
Australia's benchmark S&P/ASX 200 is set to rise, with futures standing at 8,025, up from the index's close of 8,070.6.
The Bank of Japan kickstarts its policy meeting on Wednesday, and is widely expected to hold rates at 0.5% when the meeting concludes on Thursday.
Investors will also be waiting on a slew of key economic data in the region. China will be reporting its PMI data for April while Japan is slated to release its industrial output and retail sales data for March. Australia is expected to report its inflation data for the first quarter of the year.
President Donald Trump said Tuesday that tariff negotiations with India are "coming along great," and he believes the U.S. will strike a trade deal with the South Asian nation.
Speaking at a White House press briefing, Treasury Secretary Scott Bessent said the administration also held "substantial talks" with Japan over a possible trade deal, and that "the contours of a deal" with South Korea could be coming together.
Stock futures tied to the Dow Jones Industrial Average were little changed Tuesday night after the blue-chip index posted its longest winning run since July. Futures tied to the 30-stock Dow fell 6 points, or 0.01%. S&P 500 futures slipped 0.2%, while Nasdaq 100 futures lost 0.4%.
Overnight stateside, the three major averages closed higher. The Dow Jones Industrial Average rose on Tuesday, hitting its highs of the day.
The Dow climbed 300.03 points, or 0.75%, to close at 40,527.62. The S&P 500 gained 0.58%, ending at 5,560.83. Both indexes posted a sixth straight positive day, marking the longest win streak since July for the Dow and since November for the S&P 500. The Nasdaq Composite advanced 0.55%, settling at 17,461.32.
— CNBC's Sean Conlon, Alex Harring and Erin Doherty contributed to this report.
The three major averages rose on Tuesday.
The Dow Jones Industrial Average jumped 300.03 points, or 0.75%, to finish at 40,527.62. The S&P 500 gained 0.58% to close at 5,560.83, and the Nasdaq Composite rose 0.55% to end at 17,461.32.
— Sean Conlon
John Paulson, who made a killing during the great financial crisis, sees gold rising to almost $5,000 an ounce by 2028 amid trade tensions and central banks' buying, according to an interview with Reuters.
Gold is widely viewed as a safe-haven asset and a hedge against rising global uncertainties. The bullion climbed in an unprecedented rally to notch a record high at $3,500.05 an ounce last week.
"It's a well-informed prediction. I think that's a reasonable number," Paulson said. "As central banks and people look to put their money in a more stable source … I think gold will increase its position in the world."
The famed investor is the largest shareholder in Idaho gold and antimony developer Perpetua Resources. He also bought a 40% stake in NovaGold's Donlin gold project in Alaska from Barrick.
— Yun Li
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
44 minutes ago
- Yahoo
Why MongoDB Rallied This Week
MongoDB's first-quarter report and forward guidance impressed Wall Street. Management said the company had the most net customer adds in six years. MongoDB could be a delayed AI winner. 10 stocks we like better than MongoDB › Shares of database disruptor MongoDB (NASDAQ: MDB) rallied 17.7% this week through Friday as of 12:15 p.m. ET, according to data from S&P Global Market Intelligence. MongoDB reported its fiscal first-quarter earnings on Wednesday, trouncing analyst estimates and showing some reacceleration from the prior quarter. MongoDB has said that it would become an artificial intelligence (AI) winner once the "experimentation" phase ended and companies began to build AI-powered software applications. It looks like that may be starting now. Coming into this week, MongoDB was still wallowing in a severe downturn, having been more than cut in half since its 2021 highs and also its early 2024 highs. Revenue had been decelerating amid economic uncertainty, and management said that while it expects to see growth from the AI revolution, that growth wouldn't happen until AI moved from the experimentation phase to the application phase. In the first quarter ending in April, MongoDB began to see some of those benefits. Revenue grew 22% to $549 million, fueled by consumption-based MongoDB Atlas growth of 26%. That overall revenue figure was well above expectations, as well as the prior guidance given by the company of $524 million to $529 million. Non-GAAP (adjusted) earnings per share of $1 nearly doubled, and trounced expectations by $0.34. Management also raised full-year revenue guidance from $2.26 billion to $2.27 billion at the midpoint, and adjusted earnings-per-share figures from $2.51 to $3.03 at the midpoint. On the conference call, MongoDB noted its net customer additions were the highest in over six years, especially self-serve customers. That's really impressive, and highlights AI developers turning to MongoDB as their go-to database to handle and organize the "messiness of the real world" within data connections. Software-as-a-service stocks are generally very expensive, but if MongoDB is in fact on the brink of an acceleration, it could be one of the best values in the space. After this week's surge, shares trade around 8 times this year's revenue guidance, which is expensive for a typical stock, but reasonable for a software stock. Of note, MongoDB also has a significant amount of cash on its balance sheet, at over $2.3 billion, good for 13% of its market cap, and no debt. In terms of AI software plays, MongoDB looks like a promising opportunity, as the stock is still down markedly from its all-time highs. Before you buy stock in MongoDB, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and MongoDB wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,395!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $858,011!* Now, it's worth noting Stock Advisor's total average return is 997% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Billy Duberstein and/or his clients have no position in any of the stocks mentioned. The Motley Fool has positions in and recommends MongoDB. The Motley Fool has a disclosure policy. Why MongoDB Rallied This Week was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Lee Jae-myung, Trump speak on phone, reaffirm U.S.-South Korea alliance
June 7 (UPI) -- South Korea's President Lee Jae-myung spoke for the first time with U.S. President Donald Trump late Friday as both leaders agreed to further strengthen their nations' alliance. Lee, who took office Wednesday, talked with Trump in a 20-minute phone call, according to the presidential office of South Korea. The White House has not confirmed the conversation, and the president, who is in New Jersey this weekend, hasn't posted about the call on Truth Social. The two presidents agreed to strive toward reaching a mutually acceptable trade agreement, including on tariffs. Trump has imposed 10% baseline tariffs on most trading partners. On April 2, Trump said the Republic of Korea would face a 49% duty but one week later he paused it for three months along with the other worst offenders in the trade imbalance. South Korea's tariffs on imported agricultural goods average 54%. Trump congratulated Lee on his election victory, and the new leader expressed his gratitude, according to the office. Lee noted the importance of the alliance, which forms the foundation of Seoul's diplomacy. The phone call was "conducted in a friendly and candid atmosphere," as they shared anecdotes and experiences from their election campaigns, according to South Korea's presidential office. They exchanged views on their assassination attempts last year and political challenges, in addition to discussing their their golf skills and agreed to play a round together. Trump invited Lee to the White House and the Group of Seven summit in Alberta, Canada, from June 15-17. South Korea is not a G7 member state, but the nation attended them group's meetings in 2021 and 2023. Korea's neighbor, Japan, is a member of the G7. Yonhap reported the South Korea government is in consultations for Japanese Prime Minister Shigeru Ishiba and Chinese President Xi Jinping to speak to their leader. It has not been decided whether Lee will attend the North Atlantic Treaty Organization leaders' summit in the Netherlands on June 24 and 25, according to the presidential office. Lee, the Democratic Party liberal candidate, won in a landslide over Kim Moon-soo of the conservative People Power Party. He was inaugurated the next day on Wednesday. South Koreans turned out in record numbers in a snap election triggered by the impeachment and removal of Yoon Suk Yeol in April after a botched martial law decree. Some 35.24 million voters cast a ballot, representing a turnout of 79.4% -- the highest mark since an 80.7% turnout in 1997.
New York Post
an hour ago
- New York Post
German town offers free 2-week stay to lure people to relocate there
A German town trying to beef up its population is luring in new residents by offering them a two-week trial accommodation — on the house. Eisenhüttenstadt, around 60 miles from Berlin, was built in 1950. dpa/picture alliance via Getty Images Eisenhüttenstadt, around 60 miles from Berlin, is accepting applications for the program — which will run from Sept. 6 to 20 — until the beginning of July. Advertisement 'The project is aimed at anyone interested in moving to Eisenhüttenstadt—such as commuters, those interested in returning to the town, skilled workers, or self-employed individuals seeking a change of scenery,' the local council said in a statement, according to CNN Travel. The initiative in the city, which now has a population of around 24,000, is part of an 'innovative immigration project' named 'Make Plans Now,' the council continued. Local businesses will offer internships and job shadowing. dpa/picture alliance via Getty Images Advertisement Those enrolled in the program will also participate in activities designed just for them, including a tour of Eisenhüttenstadt, home to historical buildings from the Soviet era. One man was so captivated by its architecture that he had already moved there. 'We were traveling to Ratzdorf with friends and drove through Karl-Marx-Straße. And I saw these houses, this architecture that completely blew me away, and I said to my wife, 'I'm going to move here,'' he wrote on the town hall's Instagram account. Eisenhüttenstadt, which means Steel Mill Town, was built around a steel mill. Guests will get the chance to explore its factories as well. Advertisement The town also houses the largest integrated steelworks facility in eastern Germany, which employs 2,500 people and acts as a metals processing hub. Local businesses will also offer internships, job shadowing and conduct interviews with tourists, who can move there and join their labor force. Founded in 1950, Eisenhüttenstadt was the first town built from scratch under then East Germany's socialist government. At its peak, it boasted a population of 50,000. Advertisement It was originally named Stalinstadt, or Stalin Town, after the late Soviet leader, Joseph Stalin, but was renamed after the fall of the Berlin Wall in 1989 and the German reunification.
