Corporate earnings season is beginning next week. Investors hope strong results will support high valuations in the U.S. stock market, which is near record highs. The S&P 500 has risen 20% year-to-date. Key earnings reports from major financial firms and U.S. consumer price data next week will be crucial for the market’s direction.
Asian stocks advance as Fed’s rate cut lifts mood
Asian markets followed Wall Street higher after the US Federal Reserve lowered interest rates. Fed Chair Jerome Powell indicated confidence in the US economy’s future.