Japanese stocks rose as economic growth data beat expectations, while Australian stocks also rose, according to Bloomberg. Inflation data supported expectations of a rate cut by the Federal Reserve next month. Evercore said the Fed is now more focused on labor data than inflation data, and future labor data will determine the extent of rate cuts.
In Asia, Indonesia's July trade data will be released on Thursday, while South Korea and India will be closed. The People's Bank of China will announce the medium-term lending facility rate, as well as house price, retail sales and industrial production data.
Hedge fund manager Michael Burry further focused on the decision of Japanese Prime Minister Fumio Kishida. The S&P 500 rose for a fifth straight day, led by financial, energy and technology stocks. Large-cap stocks had mixed performance.
In commodities, oil prices recovered after two consecutive declines on Wednesday, while gold remained stable after two intraday declines, trading around $2,447 an ounce.