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Nov 28 (Reuters) - A look at the day ahead in Asian markets. Investors were grappling with fresh U.S. inflation data and its implications for Federal Reserve policy along with continued fallout from Donald Trump's tariff pledges as trading in the U.S. was thinning out ahead of the Thanksgiving holiday. Asian markets were waking up to a tepid day for U.S. equities, with technology shares leading major indexes lower. Shares of Dell (DELL.N) , opens new tab and HP (HPQ.N) , opens new tab sank after weak forecasts from the personal computer makers, weighing on the tech sector (.SPLRCT) , opens new tab . Data showed the personal consumption expenditures (PCE) price index -- an inflation gauge followed by the Fed -- rose 2.3% in the 12 months through October, a slight uptick from the prior month. Traders were still expecting another interest rate cut when the Fed meets in mid-December, with Fed futures showing that expectations of a 25 basis point reduction remained intact following the PCE data. Investors were trying to sort through the potential fallout from Trump's pledge earlier this week of big tariffs on Canada, Mexico and China, which has rattled assets including currencies and auto shares . For example, Goldman Sachs economists estimated the tariffs, if implemented, would increase U.S. core PCE inflation by 0.9%. Meanwhile, Mexico's president warned the country would retaliate if Trump followed through with his 25% across-the-board tariff, a move her government warned could kill 400,000 U.S. jobs. With tariffs as a continued specter, major Asian indexes posted mixed sessions on Wednesday. Japan's Nikkei (.N225) , opens new tab ended lower, with automakers leading the losses, amid concerns about the impact of Trump's tariff plans and a stronger yen. But key China equity gauges gained more than 1%, as data showed a less sharp decline in the country's industrial profits and traders bet that Beijing will provide stimulus to counter risks from the U.S. tariffs. In India, a Reuters poll of equity analysts found that equity markets will take time to recover from their recent sell-off because they remain overvalued, with last week's Adani indictments only adding to the pain. Beyond the U.S., central bank policy was in focus elsewhere globally. New Zealand's central bank cut rates on Wednesday for a third time in four months, and flagged more substantial easing. The Bank of Korea is up next. The BOK is expected to keep its key policy rate at 3.25% on Thursday to support the Korean won against a strong U.S. dollar, according to a Reuters poll of economists, who forecast at least three rate cuts next year. The end of the week is expected to bring more eventful data in Asia, with GDP figures due in India and Taiwan on Friday, along with Tokyo CPI data. "Black Friday" -- the day after Thanksgiving -- also marks the unofficial start of U.S. holiday shopping season . The extent to which inflation-challenged shoppers flock to deals will be of interest to markets, with consumer spending making up more than two-thirds of U.S. economic activity. Here are key developments that could provide more direction to markets on Thursday: - Bank of Korea monetary policy meeting - Australia capex data (Q3) - Germany CPI (Nov) Sign up here. Reporting by Lewis KrauskopfEditing by Bill Berkrot Our Standards: The Thomson Reuters Trust Principles. , opens new tab
By HALELUYA HADERO, Associated Press President-elect Donald Trump asked the Supreme Court on Friday to pause the potential TikTok ban from going into effect until his administration can pursue a “political resolution” to the issue. The request came as TikTok and the Biden administration filed opposing briefs to the court, in which the company argued the court should strike down a law that could ban the platform by Jan. 19 while the government emphasized its position that the statute is needed to eliminate a national security risk. Related Articles “President Trump takes no position on the underlying merits of this dispute. Instead, he respectfully requests that the Court consider staying the Act’s deadline for divestment of January 19, 2025, while it considers the merits of this case,” said Trump’s amicus brief, which supported neither party in the case. The filings come ahead of oral arguments scheduled for Jan. 10 on whether the law, which requires TikTok to divest from its China-based parent company or face a ban, unlawfully restricts speech in violation of the First Amendment. Earlier this month, a panel of three federal judges on the U.S. Court of Appeals for the District of Columbia Circuit unanimously upheld the statute , leading TikTok to appeal the case to the Supreme Court. The brief from Trump said he opposes banning TikTok at this junction and “seeks the ability to resolve the issues at hand through political means once he takes office.”
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Stock market today: Wall Street inches higher to set more records