- Most Asian stocks rose after the S&P 500 set a new high, as corporate earnings and progress on Biden's economic agenda boosted sentiment, even as the debate over inflation risks heated up.
- Equities rose in Japan and China and fluctuated in Hong Kong.
- Traders digested reports of a video call on economic issues between China’s Vice Premier Liu He and US Treasury Secretary Yellen.
- Futures in the US advanced, with Nasdaq 100 contracts outperforming. The tech-heavy index led overnight gains in the United States, as Tesla surged to a $1 trillion market cap.
- The 10-year US treasury yield edged up and the dollar was steady.
- The debate over price pressures rages on, with former US Treasury Secretary Summers claiming that officials will struggle to deal with "inflation reality" until they fully recognise it.
