Stocks, Treasuries and other assets steadied as investors sought to move on from weak US economic data that had rattled financial markets Tuesday.
US and European stock-index futures pointed to gains, Treasury 10-year yields rebounded in Asian trading while gold, Bitcoin and oil all traded within a tight range after declines overnight.
Hong Kong equities surged, extending a rally that started last month driven by optimism that China’s technological breakthroughs may help revive the sluggish economy.
Investors sought safer corners of the market Tuesday after a weak US consumer confidence reading raised worries about the outlook for the broader economy from President Donald Trump’s policies and their impact on global growth.
Chances for early action on his tax cut plans improved as House Republicans passed a budget blueprint Tuesday.
The steadiness Wednesday will get a test later when Nvidia Corp. reports earnings. “Nvidia’s numbers could well be a make-or-break event for the market, at least in the short term,” said Tim Waterer, chief market analyst at KCM Trade in Sydney.
“What could really drive sentiment one way or the other could boil down to whether the outlook from the company remains as rosy as before.”
