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The view of Nanjing Road East Pedestrian Mall the main shopping street in Shanghai.
Bruce Yuanyue Bi | The Image Bank | Getty Images
Asia-Pacific markets were set to open higher Tuesday after all three key benchmarks on Wall Street rose on a tech rally.
Japan's benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 34,415 while its counterpart in Osaka last traded at 34,300, against the index's Monday close of 33,982.36.
Futures for Hong Kong's Hang Seng index stood at 21,585, pointing to a stronger open compared to the HSI's last close of 21,417.40.
Australia's S&P/ASX 200 is expected to extend gains from the previous session, with futures higher at 7,792.
U.S. futures slipped as investors awaited first-quarter earnings reports and weighed U.S. President Donald Trump's tariff plans.
Notices by the U.S. Commerce Department indicated that it would be investigating the impact of "imports of semiconductors and semiconductor manufacturing equipment" as well as "pharmaceuticals and pharmaceutical ingredients, including finished drug products," on national security in the U.S.
Overnight stateside, stocks rose in a choppy session, thanks to a rally in tech names spurred by a surprise tariff exemption from Trump.
The Dow Jones Industrial Average added 312.08 points, or 0.78%, to close at 40,524.79. The Nasdaq Composite rose 0.64% to end at 16,831.48, while the S&P 500 added 0.79% and settled at 5,405.97.
— CNBC's Lisa Kailan Han, Alex Harring and Sean Conlon contributed to this report.
Fed's Waller sees tariff inflation impact as 'transitory'
Federal Reserve Governor Christopher Waller speaks during The Clearing House Annual Conference in New York City on Nov. 12, 2024.
Brendan Mcdermid | Reuters
Federal Reserve Governor Christopher Waller said Monday that inflation from Trump's tariffs likely will be "transitory," and indicated that interest rate reductions are still on the table.
In a speech delivered in St. Louis, the central bank official broke down tariffs into two scenarios, one in which they are higher and longer lasting and the other whether they are negotiated lower. In either case, Waller said rate cuts are likely to boost growth under the higher-tariff scenario or as "good news" reductions under the reduced level.
"I can hear the howls already that this must be a mistake given what happened in 2021 and 2022. But just because it didn't work out once does not mean you should never think that way again," Waller said of the "transitory" call.
— Jeff Cox
English (US)