Japan +0.49%. Japan PPI services for February +1.8% (expected +1.7%, prior +1.6%).
China -0.62% China January – February Industrial profits -22.9% y/y (vs. prior -4.0%).
Hong Kong -0.58%. Hong Kong’s inflation rate slowed to 1.7% in February on a year-on-year basis, down from 2.4% in January and at its slowest pace since May 2022.
Friday in the U.S., major US stock indices are closing higher for the day, and higher for the week. For the trading year, the Dow industrial average is still down on the year but the S&P and the NASDAQ index are positive. The Dow industrial average up 132.28 points or 0.41% at 32237.54. At intraday lows, the index was down -300.08 points. S&P index up 22.27 points or 0.56% at 3970.98. At intraday lows, the S&P index was down -39.55 points. NASDAQ index up 36.57 points or 0.31% at 11823.97. Intraday lows reached -116.73 points.
Oil prices were little changed, and are nursing losses of almost 10% for the month as worries about global growth undermine commodities in general.
Brent fell 1 cent to $74.98 a barrel, while U.S. crude added 2 cents to $69.28 per barrel.
While U.S. and European stock futures edged higher on hopes authorities were working to ring fence stress in the global banking system, even as the cost of insuring against default neared dangerous levels.
US futures higher. Dow Jones +0.39%; S&P 500 +0.50%; Nasdaq +0.46%.
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