A look at the day ahead in markets from Stephen Culp, New York stock market reporter.
Asian stocks are primed for a green Wednesday on the heels of a broad rally on Wall Street, as a slew of economic data suggested the Federal Reserve's restrictive monetary policy is working as directed.The tech-heavy Nasdaq posted its biggest January percentage advance in 22 years.
Risk appetite was largely fueled by economic data, specifically the Employment Cost Index which decelerated in the fourth quarter to itsThis is welcome news for the Fed, which is expected to punctuate its two-day monetary policy meeting on Wednesday with a 25 basis point hike to the Fed funds target rate, its latest salvo in its battle against inflation.
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