Asian markets mixed as investors await US inflation data
Asian stock markets were a mixed bag this Friday—Japan and Australia slipped, but South Korea managed some gains.
The big reason? Investors are holding their breath for key US inflation numbers due Friday.
This follows upbeat US economic growth that pushed Wall Street higher, even though inflation worries are still hanging around.
What happened on Wall Street?
The S&P 500 nudged up 0.3% on Thursday after reports showed stronger-than-expected US growth and steady consumer spending.
All eyes are now on July's core PCE (a major inflation measure), which is expected to rise at its fastest pace in five months—something that could influence future interest rate cuts.
Meanwhile, oil prices dipped as hopes faded for a quick end to the Russia-Ukraine conflict, keeping global markets cautious ahead of the next Federal Reserve decision.