Stocks traded in a tight range as investors held off from adding more bets to their portfolios ahead of June payrolls data from the US Thursday.
Japanese shares dropped on President Donald Trump’s latest tariff threat. Contracts for the S&P 500 edged up 0.3% while an index of Asian shares was flat – paring most of its earlier losses.
The Nikkei-225 Stock Average declined 0.2% after Trump threatened to hike tariffs on Japan and deepened his criticism of the country for not accepting US rice exports.
A gauge of the dollar edged back toward a three-year low set Tuesday. Investors are closely monitoring the economic data and trade tensions after Trump said he won’t delay the July 9 deadline for imposing higher levies on trading partners.
Stock markets — which once swung wildly on trade headlines — appear to see little risk, as equity indexes sit near all-time highs. The calm is being fueled by expectations Trump will extend his tariff deadline based on his pattern of threatening first and backing down later.
“We are locked firmly in wait-and-see mode” ahead of the jobs data, said Tony Sycamore, market strategist at IG Australia Pte.
