Asian shares rise, Treasuries steady before US Fed chair’s policy speech; Kospi down 1.3%
Traders reluctant to add to positions before Warsh’s Jackson Hole speech
Asian equities saw a slight increase on Thursday, while US stock futures fell as traders remained cautious before Federal Reserve Chair Kevin Warsh's speech at Jackson Hole. MSCI's Asia Pacific equities gauge rose 0.3%, with nearly equal gains and losses among stocks. The Kospi Index, which tracks artificial intelligence investments, declined 1.3%.
US Treasuries managed to prevent additional losses. Futures for Wall Street indexes edged lower due to waning excitement over Nvidia's bullish outlook. European shares were expected to rise. Fed Chair Warsh is scheduled to address the annual gathering in Jackson Hole, Wyoming, potentially providing insights into the Fed's stance on interest rates.
The two-year note yield remained steady at 4.23%. US dollar value remained unchanged. Traders expressed uncertainty about the Fed's approach to balancing inflation and an economy cooling down.
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