(Bloomberg) – Asian stocks are expected to rise on Monday after their US peers hit a record high, supported by a US jobs report that allayed fears of too high economic growth and troublesome inflation.

Futures increased in Japan and Hong Kong and remained stable in Australia. American contracts have changed little. The S&P 500 closed higher on Friday and the dollar fell along with Treasury yields, after a report showed US job growth accelerated in May but lacked estimates. The greenback was stable at the start of the session.

Investors continue to question whether price pressures will lead central banks to cut stimulus sooner than expected. Treasury Secretary Janet Yellen said President Joe Biden should push ahead with his spending plans even if they trigger inflation that persists next year, adding that a “slightly higher” interest rate environment would be one more”.

Bitcoin traded around $ 35,000 after falling over the weekend amid a cryptocurrency crackdown in China. Crude oil and retained gold are climbing.

The US jobs report showed an increase in workers’ wages, adding to the debate over the price pressures that have dominated the markets. Speculation continues that the US recovery from the pandemic is strong enough to prompt the Federal Reserve to discuss as early as this month the idea of ​​scaling back its massive bond buying program. Traders are eagerly awaiting the US Consumer Price Index report this week for more clues.

“The slightly smaller-than-expected rise in payroll employment in the United States in May is unlikely to change the Fed’s thinking, but another pickup in CPI inflation likely to be signaled on Thursday will further boost the market. speech on the tap “, Shane Oliver, Head of Investments. strategy and chief economist at AMP Capital, wrote in a note.

Elsewhere, the Group of Seven Wealthy Nations have struck a landmark deal that could help countries collect more taxes from big business and allow governments to impose taxes on U.S. tech giants like Amazon.com Inc. . and Facebook Inc.

Here are some of the main movements in the markets:

Actions

S&P 500 futures were flat at 7.40 a.m. in Tokyo. The index rose 0.9%. FridayNasdaq 100 futures rose less than 0.1%. The gauge climbed 1.8% Nikkei 225 futures rose 0.7% Australia’s S & P / ASX 200 index futures rose 0.1% Hong Kong Hang Seng Index futures gained 0.6% earlier

Currencies

The yen was at 109.57 per dollar Offshore yuan was at 6.3911 per dollar Bloomberg Dollar Spot Index was stable after falling 0.5% on Friday Euro was at $ 1.2164

Obligations

The yield on 10-year treasury bills fell seven basis points to 1.55% on Friday

Merchandise

West Texas Intermediate crude dipped 0.1% to $ 69.55 per barrel Gold was at $ 1,890.18 per ounce

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