Asia shares poised for seventh straight month of gains

Market Performance - Asian shares are on track for a seventh consecutive month of gains, driven by positive earnings from Amazon and Apple, which boosted Wall Street futures [1] - Nasdaq futures increased by 1.2% and S&P 500 futures rose by 0.6%, with Amazon's shares surging 13% after its earnings report, adding over $300 billion to its market value [2] - The MSCI index of Asia-Pacific shares outside Japan rose by 0.2%, with a weekly gain of 1.8% and a monthly rise of 4.7% [4] Company Earnings - Amazon's earnings significantly improved market sentiment, while Apple's outlook on iPhone sales exceeded estimates, contributing to their respective stock price increases [2][3] - Mixed results were reported from six of the "Magnificent Seven" US tech companies, with Nvidia set to report in three weeks [3] Regional Market Trends - Japan's Nikkei index increased by 1.1%, achieving weekly and monthly gains of 5.2% and 15.5%, respectively [5] - Chinese stocks faced challenges due to a disappointing factory activity report, with the official PMI dropping to a six-month low of 49, below the forecast of 49.6 [5] Central Bank Actions - Major central banks, including the Federal Reserve, delivered expected decisions, with Fed Chair Jerome Powell countering market expectations for a December rate cut [7] - The US dollar remained near three-month highs, supported by rising Treasury yields, with the two-year yield flat at 3.6021% and the 10-year yield steady at 4.0931% [8] Commodity Prices - Oil prices declined, heading for a third consecutive month of losses, with Brent crude futures at $64.67 per barrel and West Texas Intermediate at $60.22 per barrel [9] - Spot gold prices saw a 2.4% overnight gain but were down nearly 2.0% for the week, trading at $4,033.48 per ounce [10]