Asia Stocks Poised for Gains as US Inflation Cools

Asian stocks are poised to extend their gains on Friday as evidence of moderating US inflation and lower oil prices increases bets that the Federal Reserve will hold off on raising interest rates next month.

Equity-index futures in Japan and South Korea point higher, putting MSCI's Asia Pacific Index on track for a third day of gains. In contrast, Australian contracts have fallen.

The US economy appears to be cooling down, with further evidence of this coming from the latest inflation data. The S&P 500 rose by 0.7% on Thursday to reach a record high, while the Nasdaq 100 jumped 1.15% to its highest level since late June due to increased hyperscaler spending.

US crude oil prices have slipped by 0.2% early Friday, ending their streak of gains.