Asian Stocks Rebound 2% as Oil Slips Below $99 and Fed Hike Bets Lift Dollar
Updated
Updated · Reuters · Nov 9
Asian Stocks Rebound 2% as Oil Slips Below $99 and Fed Hike Bets Lift Dollar
3 articles · Updated · Reuters · Nov 9
Summary
MSCI’s Asia-Pacific index outside Japan rose 2% on Monday, with Japan up 3.5% and Taiwan more than 6%, as investors bought back into markets after last week’s AI-led rout.
Brent crude fell to $98.2 a barrel after Donald Trump said fresh US strikes on Iran were highly unlikely while talks progress, easing one of the market’s main geopolitical pressures.
US futures also firmed—S&P 500 e-minis gained 0.6%—but this week’s tech earnings from CoreWeave, Applied Materials and Cisco are set to test whether costly AI spending can still deliver profits.
A 165,000-strong US payrolls report pushed December Fed hike odds to nearly 80%, helping the dollar index hold at 102.2 ahead of Tuesday’s CPI data.
China’s October data showed factory-gate inflation at its fastest pace in more than four years even as consumer inflation cooled, underscoring persistent cost pressure alongside weak domestic demand.