TOKYO (AP) — Asian shares were trading mostly lower on Wednesday after a decline overnight on Wall Street, while Tokyo's main benchmark momentarily hit another 30-year high.
S&P 500 futures fell 0.5% to 4,775.25.
Companies across the S&P 500 are likely to report meager growth in profits for the fourth quarter from a year earlier, if any, if Wall Street analysts' forecasts are to be believed.
But optimism is higher for 2024, where analysts are forecasting a strong 11.8% growth in earnings per share for S&P 500 companies, according to FactSet.
The index remains within 0.6% of its all-time high set two years agoFor now, traders are penciling in many more cuts to rates through 2024 than the Fed itself has indicated.
Persons:
Australia's, Korea's Kospi, Stephen Innes, Brent, Stan Choe, Yuri Kageyama
Organizations:
TOKYO, Dow, Nikkei, Companies, Wall, Federal Reserve, Fed, U.S, AP
Locations:
Hong, Shanghai, New York