Market Sentiment Turns Sober

Rate cut euphoria aggravated by emphatic hints by Fed Chair Jerome Powell on Friday abated as markets reassessed the monetary policy outlook. Anxiety ahead of PCE-based inflation data from the U.S. and flash inflation readings from Europe on Friday also aided the moderation in market mood. Markets in the meanwhile are waiting for key earning updates including from AI giant NVIDIA on Wednesday.

Wall Street Futures are trading directionless. European benchmarks are trading in the green zone. Asian stock indexes finished trading on a mixed note.

Dollar Index edged down. Bond yields hardened across regions. Crude oil prices slipped as demand concerns reemerged. Gold prices took a breather after gains in the previous 3 sessions. Cryptocurrencies declined.

Here is a snapshot of the major world markets at this hour.

Stock Indexes:

DJIA (US30) at 41,234.80, down 0.01%
S&P 500 (US500) at 5,621.60, up 0.08%
Germany’s DAX at 18,663.35, up 0.22%
U.K.’s FTSE 100 at 8,347.32, up 0.23%
France’s CAC 40 at 7,603.80, up 0.18%
Euro Stoxx 50 at 4,904.65, up 0.16%
Japan’s Nikkei 225 at 38,332.00, up 0.72%
Australia’s S&P ASX 200 at 8,071.20, down 0.16%
China’s Shanghai Composite at 2,848.73, down 0.24%
Hong Kong’s Hang Seng at 17,874.67, up 0.43%

Currencies:

EUR/USD at 1.1174, up 0.12%
GBP/USD at 1.3239, up 0.38%
USD/JPY at 144.78, up 0.18%
AUD/USD at 0.6783, up 0.17%
USD/CAD at 1.3467, down 0.15%
Dollar Index at 100.79, down 0.06%

Ten-Year Govt Bond Yields:

U.S. at 3.842%, up 0.66%
Germany at 2.2710%, up 1.02%
France at 2.994%, up 1.32%
U.K. at 4.0370%, up 2.41%
Japan at 0.885%, up 0.45%

Commodities:

Brent Oil Futures (Nov) at $79.68, down 0.85%.
Crude Oil WTI Futures (Oct) at $76.64, down 1.01%.
Gold Futures (Dec) at $2,546.30, down 0.35%.

Cryptocurrencies:

Bitcoin at $62,927.35, down 1.15%
Ethereum at $2,686.76, down 1.55%
BNB at $554.93, down 1.28%
Solana at $157.52, down 1.07%
XRP at $0.5898, down 1.08%.

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