Asian stocks followed Wall Street higher on Friday after data showed the U.S. economy didn't contract by as much as previously thought during the spring.
All eyes were on Fed Chair Powell's speech at the Jackson Hole Symposium due later in the day after several Fed officials stressed the need to keep raising rates to combat inflation. Investors hope that his speech will shed light on plans for more interest rate hikes.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.