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View of the central business district skyline at sunset in Beijing, China.
Sheng Peng | Visual China Group | Getty Images
Asia-Pacific stocks were set to open mixed Monday as markets kickstart what ING calls a "quiet" week for economic data from the region.
Key data this week from the region will include China's loan prime rate announcement, set for Wednesday.
ING said no change is expected in China's LPR, with the one-year rate currently at 3.1% and the five-year LPR at 3.6%.
Japan will release trade data on Tuesday and October headline inflation numbers on Friday, while Australia's central bank on Tuesday will release minutes of its meeting earlier this month..
Japan's benchmark Nikkei 225 was set to fall, with the futures contract in Chicago at 38,170 and its counterpart in Osaka at 38,040 against the index's last close of 38,642.91.
Australia's S&P/ASX 200 started the day down 0.45%.
Futures for Hong Kong's Hang Seng index stood at 19,458, pointing to a stronger open compared to the HSI's close of 19,426.34.
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Top Morningstar strategist David Sekera says one sector is trading at a 5% discount and is set to "do well, especially if we get into more of a reflationary environment later in 2025."
Sekara also shared his outlook for U.S. markets in the lead up to 2025.
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— Amala Balakrishner
Fri, Nov 15 20242:38 PM EST
Small-cap stocks pull back this week
Small-cap stocks have seen outsized losses this week, reversing course after the postelection rally.
The Russell 2000 has dropped around 4% this week, hurt in part by a slide of more than 1% on Friday. The S&P 500 has lost just 2.2% over the course of the week.
The Russell 2000, 5 days
That marks a turn after the Russell 2000 jumped more than 8% last week. Small caps are seen as beneficiaries of President-elect Donald Trump's victory, as his preference of deregulation can aid tinier firms.
Despite this week's declines, the Russell 2000 is up nearly 5% in November. It is poised to finish 2024 more than 13% higher.
— Alex Harring
Fri, Nov 15 202411:42 AM EST
Health care leads weekly losses
The health-care sector lost 5.3% on the week, making it the worst-performing group in the S&P 500.
Materials and information technology were the following biggest decliners, falling 3.1% and 2.9%, respectively.
The only sectors on pace to end the week in the green were financials and energy, which were up 1.3% and 0.9%, respectively.
— Hakyung Kim
Fri, Nov 15 202411:07 AM EST
Chicago Fed's Goolsbee still sees rates on a downward path
Austan Goolsbee speaking at Jackson Hole on Aug. 23, 2024.
David A. Grogan | CNBC
Chicago Federal Reserve President Austan Goolsbee expressed confidence Friday that the central bank is on the way to achieving its economic goals and can continue to lower interest rates.
"To me, the conditions on the dual mandate side are looking pretty balanced," Goolsbee said during a CNBC "Squawk Box" interview. "So we should be thinking over the next year, year and a half, the rates need to come down."
However, Goolsbee also endorsed phrasing Thursday by Fed Chair Jerome Powell that the Fed does not need to be in "a hurry" to cut.
"Unless the conditions change, I'm still feeling good about us being on a 12- to 18-month path of getting the rates down to something like neutral," he said.
— Jeff Cox
English (US)