Singapore central business district sunrise.
Naphakm | Moment | Getty Images
Asia-Pacific markets are headed for a positive open on Friday after another key report reaffirmed sentiments that U.S. inflation was cooling.
The March producer price index, a measure of prices paid by companies and often a leading indicator of consumer inflation, declined by 0.5% month over month versus economists’ expectations for prices to be flat.
The PPI data confirmed the easing inflation trend from Wednesday’s March’s consumer price index report, which advanced just 0.1% month over month. Consumer prices grew 5% on an annual basis, the smallest increase in nearly two years.
In Australia, futures for the S&P/ASX 200 stood at 7,356, compared to the index’s last close of 7,324.1.
Japan’s Nikkei futures contract in Chicago was at 28,435, while its counterpart in Osaka was at 28,370 against the Nikkei 225’s last close at 28,156.97.
Hong Kong’s Hang Seng index, futures also pointed to a higher open, standing at 20,468 compared to 20,344.48 at its last close.
Singapore’s central bank will announce its monetary policy decision, and first quarter gross domestic product estimates are also expected.
Overnight in the U.S., all three major indexes rose, with the S&P 500 climbing 1.33% for its highest close since February. The Nasdaq Composite advanced 1.99%, and the Dow Jones Industrial Average added 1.14%.
— CNBC’s Sarah Min, Brian Evans contributed to this report