Finance

Asian markets rise ahead of Trump speech, Fed meeting

Asian markets rise ahead of Trump speech, Fed meeting

On Wall Street, the conventional wisdom is that once the Federal Reserve finally starts to whittle down its crisis-era debt investments, US Treasury yields will have nowhere to go but up. The Federal Open Market Committee wraps up a two-day meeting Wednesday, but a rate hike is not expected. No interest rate changes are expected from the FOMC at this meeting. "Janet Yellen has a press conference, and that and the statement will perhaps provide some insight into what they're going to do in terms of deleveraging their balance sheet", said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.

ANALYST'S TAKE: "On the political front, no prizes for guessing that North Korea will top the agenda of President Trump's address to the gathering of world leaders at the U.N.", Rob Carnell of ING said in a report.

"There's some concern among investors as to how this will work, and how it will affect long-term rates".

CENTRAL BANK WATCH: In Europe, investors are monitoring a speech by Bank of England Governor Mark Carney for confirmation that the bank expects to raise interest rates in coming months for the first time in a decade.

NORTH KOREA: Markets are watching Trump's United Nations speech Tuesday for any mention of military options on North Korea following its latest missile launch. South Korean shares .KS11 dipped 0.1 percent, against a backdrop of caution ahead of the Fed meeting as well as continuing tensions on the Korean peninsula.

Clark Howard Answers Your Questions About The Equifax Breach
Equifax has also been widely criticized for waiting more than a month to alert its customers and shareholders about the hack. Equifax used it to support its online dispute portal - where Equifax customers go to log issues with their credit reports .

Nikkei futures traded in Chicago were down 0.69 percent at 20,160 and Osaka futures fell 0.83 percent to 20,130.

Treasury yields briefly rose earlier on Tuesday after data showed that USA import prices recorded their biggest increase in seven months in August as the cost of petroleum surged and there were also signs of a pickup in underlying imported inflation. The Dow Jones Industrial Average rose 0.28% to 22,331.35 points, the S&P 500 gained 0.15% to 2,503.87 points and the Nasdaq Composite added 0.1% to 6,454.64 points. The Nikkei 225 had surged almost 2 percent Tuesday to close at 20,299.38.

The lesson, investors say, is that what really matters to the bond market isn't so much what the Fed is doing, but what the policy changes mean for the U.S. economy in the months and years ahead. Late in the NY day, the American Petroleum Institute industry group said US crude stocks rose by 1.4 million barrels in the week to September 15. Brent crude, used to price worldwide oils, dropped 37 cents to $55.25 in London.

USA crude CLcv1 fell 43 cents to settle at $49.48 a barrel, while Brent LCOcv1 declined 34 cents to settle at $55.14.


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