CNBC Pro: Buy or avoid India’s IT stocks after recent job cuts? 3 pros share their take
Here are the opening calls for the day
Good morning from Singapore.
Investors are awaiting the release of a slew of employment-related data from Australia.
Economists polled by Reuters expect an increase of 25,000 employed individuals in July, compared to the modest jump of 2,000 the month before. The unemployment rate in July is expected to come in at 4.2%, an improvement from 4.3% in June.
Australia’s S&P/ASX 200 was set to start the day flat with futures tied to the benchmark at 8,825, compared with the index’s Wednesday close of 8,827.10.
Japan Nikkei 225 was set to open lower, with the futures contract in Chicago at 43,135 while its counterpart in Osaka last traded at 43,140, against the index’s last close of 43,274.67.
Futures for Hong Kong’s Hang Seng index stood at 25,741, pointing to a stronger open compared with the HSI’s last close of 25,613.67.
— Amala Balakrishner
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Fundamental stock market backdrop remains robust, Wolfe Research says
In a Wednesday note to clients, Wolfe Research pointed to a solid earnings season for continuing the boost the fundamental backdrop of the U.S. economy.
“With U.S. policy (tariff and monetary) incredibly volatile throughout the quarter, we viewed these results as very strong,” wrote Chris Senyek, the firm’s chief investment strategist.
“While tariff volatility depressed the earnings outlook for the S&P 500 after the Trump Administration’s Liberation Day, estimates have bounced back as companies continue to beat expectations and provide solid forward guidance,” he continued. “Though we expect seasonal volatility to pick up in the weeks ahead, the fundamental picture for stocks continues to be strong, especially as strong secular tailwinds, such as the AI Spending Narrative, remain intact.”
— Lisa Kailai Han