Japan +0.56%. Japan Jibun / S&P Global Manufacturing PMI March 2023: 49.2 (was 47.7).
The Bank of Japan’s Q1 Tankan survey shows a small increase in inflation expectations.
Chinese market closed. China Caixin/S&P Global Manufacturing PMI for March 50.0 (51.7 expected).
fungus Kong -0.69%.
Australia +0.53%. Australian Housing Finance Data for February: Home Loans -0.9% m/m vs -1.8% expected.
Australia Building permits for February +4.0% m/m (vs. expected -2.6%).
Australia March monthly inflation 0.3% m/m (was 0.4%) – TD/MI private CPI survey.
Australia PMI manufacturing for March 49.1 (was 50.5).
India -0.31%.
On Friday in the US, the major US stock indices rose on Friday after the Federal Reserve’s preferred inflation gauge showed a cooler-than-expected price rise. The technology-heavy Nasdaq Composite finished up 1.74% at 12,221.91 points. The benchmark S&P 500 index rose 1.44% to close at 4,109.31 points, while the blue-chip Dow added 1.26% to close at 33,274.15 points.
Economic data showed the core personal consumption expenditure index, the Fed’s preferred inflation gauge, gained +0.3% in February, slower than the +0.6% rise in January. On a year-over-year basis, core PCE came in at 4.6%, slightly below the expected level of 4.7%.
South Korea’s purchasing managers’ index for March fell to 47.6 from 48.5 in February, its biggest contraction in six months.
Oil futures rose as much as 8% at the open after OPEC+ members announced a full cut of more than 1 million barrels per day through the end of 2023. Crude oil rises more than $5/bbl after a surprise production cut from OPEC+.
Brent crude futures were last up 5.98% at $84.67 a barrel and US West Texas Intermediate (WTI) crude futures were up 6.04% at $80.24 a barrel. .
US futures mostly down. Dow Jones flat; S&P 500 -0.32%; nasdaq -0.66%.
