Stocks to edge lower before earnings flurry, Fed
SINGAPORE, July 24 — Stocks in Asia were set for a small drop ahead of a week packed with earnings results and a Federal Reserve interest-rate decision.
The dollar remains near a 14-month low and the euro is holding on to recent gains with the greenback near to a technical level that some say will precede more losses.
Equity-index futures in Japan, Hong Kong and South Korea were all lower and oil extended declines before an Opec meeting today.
Earnings season and changes in central bank policy are providing the latest tests for the bull-market in equities that’s propelled the value of global shares to US$78 trillion (RM333.996 trillion).
Results at industry bellwethers from Amazon.com Inc to GlaxoSmithKline Plc and Credit Suisse Group AG are due this week.
The Fed is expected to stand pat, with investors looking to the accompanying statement for clues on how officials plan to start reducing the balance sheet. — Bloomberg