Investors await key economic indicators and high-level summit
- Asian markets mostly higher ahead of U.S. inflation data and Biden-Xi meeting
- Japan’s Nikkei 225 gained 0.7%, Australia’s S&P/ASX 200 advanced 0.9%, and South Korea’s Kospi added 1.3%
- China to release monthly economic indicators, Japan to announce latest growth numbers
- Xi Jinping set to meet with President Joe Biden on the sidelines of a Pacific Rim summit
- Wall Street finishes mixed, with S&P 500 slipping 0.1% and Dow Jones gaining 0.2%
- Attention on upcoming inflation report, hope for cooling inflation and potential cuts to interest rates
- Moody’s warns of possible downgrade to U.S. government debt rating
- Benchmark U.S. crude oil adds 16 cents to $78.42 a barrel
Asian markets were mostly higher on Tuesday as investors awaited key economic indicators and a high-level summit between the U.S. and China. Japan’s Nikkei 225 gained 0.7%, Australia’s S&P/ASX 200 advanced 0.9%, and South Korea’s Kospi added 1.3%. China is set to release monthly economic indicators, while Japan will announce its latest growth numbers. On Wednesday, Chinese leader Xi Jinping is scheduled to meet with President Joe Biden on the sidelines of a Pacific Rim summit. Meanwhile, Wall Street finished mixed, with the S&P 500 slipping 0.1% and the Dow Jones gaining 0.2%. Investors are paying close attention to the upcoming inflation report, hoping for cooling inflation and potential cuts to interest rates. Moody’s has warned of a possible downgrade to the U.S. government debt rating. Benchmark U.S. crude oil added 16 cents to $78.42 a barrel.
Factuality Level: 7
Factuality Justification: The article provides information about the performance of Asian shares, upcoming data releases, and the U.S.-China summit. It also mentions the profit reporting season and the inflation report. However, the article lacks in-depth analysis and context, and some statements are presented as opinions without sufficient evidence.
Noise Level: 3
Noise Justification: The article provides a brief overview of Asian shares and upcoming market developments, but it lacks depth and analysis. It includes some irrelevant information about the bond market and Big Tech stocks that is not directly related to the main topic. The article also lacks evidence or data to support its claims.
Financial Relevance: Yes
Financial Markets Impacted: The article mentions the Asian stock markets, including the Nikkei 225, S&P/ASX 200, Kospi, Hang Seng, and Shanghai Composite. It also mentions Wall Street and the S&P 500, Dow Jones Industrial Average, and Nasdaq composite.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article primarily focuses on the performance of Asian stock markets and upcoming economic data releases. There is no mention of any extreme events or their impact.
Public Companies: Target (TGT), TJX (TJX), Walmart (WMT)
Key People: Stephen Innes (Managing Partner at SPI Asset Management), Xi Jinping (Chinese Leader), Joe Biden (President of the United States), Jerome Powell (Federal Reserve Chair)
Reported publicly:
www.marketwatch.com 
